Superior Industries International Inc. announced it refinanced its senior secured credit facilities and repaid its unsecured notes, alleviating near-term maturity pressures. Therefore, we revised our outlook to stable from negative and affirmed our 'B-' issuer credit rating. We also withdrew ratings on our senior secured and senior unsecured debt in connection with the transaction. The stable outlook reflects our view that Superior will generate positive free operating cash flow (FOCF) in the second half of 2024 and generate modestly positive FOCF in subsequent years, which should allow the company to maintain adequate liquidity. It also reflects reduced maturity risk with the capital structure moderately extended. The company will not have to deal with the volatility of the United Auto Workers
