Novi, Mich.-based auto supplier Cooper-Standard Holdings Inc. continues to improve its operating efficiency, which has increased the likelihood that its free operating cash flow (FOCF) will improve. We are revising our outlook on Cooper-Standard Holdings Inc. to positive from stable and are affirming our 'BB-' corporate credit rating on the company. The positive outlook reflects our expectation that there is an increased likelihood that Cooper-Standard will sustain EBITDA margins of more than 12% and a FOCF-to-debt ratio of over 15% as it transfers its capacity to low-cost regions and works to implement better operating efficiencies at its manufacturing facilities. On May 17, 2016, S&P Global Ratings revised its outlook on Cooper-Standard Holdings Inc. to positive from stable and affirmed its
