Superior Industries International Inc. plans to issue a new $400 million term loan B and €240 million of senior unsecured notes to finance its acquisition of Uniwheels. The company is also pursuing a new $160 million revolving credit facility (unrated) and plans to issue $150 million of preferred equity, which will be purchased by TPG Growth. Therefore, we are assigning our 'B' corporate credit rating to Superior Industries International Inc. At the same time, we are assigning our 'B' issue-level rating and '3' recovery rating to the term loan and our 'B-' issue-level rating and '5' recovery rating to the company's unsecured notes. The stable outlook reflects our expectation that Superior will lower its debt-to-EBITDA to the 4.0x-4.5x range and
