Novi, Mich.-based auto supplier Cooper-Standard Holdings Inc. has continued to improve its operating efficiency. In addition, the company now has a credible pathway to maintain resilient EBITDA margins and improve its geographic diversity. Therefore, we are raising our corporate credit rating on Cooper-Standard to 'BB' from 'BB-'. At the same time, we are raising our issue-level rating on the company's term loan to 'BBB-' from 'BB+' and our issue-level rating on its $400 million senior unsecured notes to 'B+' from 'B'. The stable outlook reflects our belief that Cooper-Standard will likely sustain EBITDA margins of more than 12% while maintaining debt-to-EBITDA of less than 3.0x amidst plateauing industry conditions. On May 5, 2017, S&P Global Ratings raised its corporate credit
