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Cooper Standard (NYSE: CPS) today announced the appointment of three new members to its board of directors: John G. Boss; Richard J. Freeland; and Adriana E. Macouzet-Flores.
Moody's Investors Service affirmed Cooper-Standard Automotive Inc.'s (Cooper-Standard) Corporate Family Rating (CFR) and Probability of Default Rating at B3 and B3-PD, respectively, and the senior unsecured note rating at Caa1, and downgraded the senior secured debt rating to B1 from Ba3. Moody's also assigned a B1 rating to the new $250 million of senior secured notes. Cooper-Standard's new senior secured notes, will rank pari passu with the existing senior secured term loan.
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Cooper-Standard Holdings Inc. (NYSE:CPS) shareholders should be happy to see the share price up 20% in the last month...
Cooper Standard (NYSE: CPS) announced today that it has further enhanced its financial liquidity position through the renewal of its asset-based revolving credit ("ABL") facility and its European receivables factoring facility. The ABL facility, which was amended on March 24, 2020, provides a line of credit of up to $180 million, subject to borrowing base availability, with maturity in March 2025. The European factoring facility, which was renewed on March 2, 2020, allows the Company to factor up to €120 million of its Euro-denominated accounts receivable, accelerating access to cash and reducing credit risk. The factoring facility expires in December 2023.
Cooper-Standard Holdings Inc. (NYSE: CPS) ("Cooper Standard," "Company" or "we") today announced that its wholly-owned subsidiary, Cooper-Standard Automotive Inc. (the "Issuer"), intends, subject to market and other customary conditions, to offer $250.0 million in aggregate principal amount of senior secured notes due 2024 (the "Notes") in a private offering. The Notes will be the senior secured obligations of, and will be guaranteed on a senior secured basis by, CS Intermediate HoldCo 1 LLC and each of the Issuer's subsidiaries that are guarantors under the Issuer's senior secured term loan facility. The Notes will also be guaranteed on a senior unsecured basis by Cooper-Standard Latin America B.V., which will also guarantee the Issuer's senior secured term loan facility.
The members of our leadership team who will be speaking with you on this call this morning are Jeff Edwards, chairman and chief executive officer; and Jon Banas, executive vice president and chief financial officer. Before we begin, I need to remind you that this presentation contains forward-looking statements.
Moody's Investors Service downgraded Cooper-Standard Automotive Inc.'s (Cooper-Standard) ratings, including Corporate Family Rating (CFR) and Probability of Default Ratings to B3 and B3-PD, from B2 and B2-PD, respectively; and senior unsecured note rating to Caa1 from B3. Moody's affirmed the senior secured rating at Ba3.
Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the first quarter 2020.
Cooper Standard (NYSE: CPS) today issued its 2019 Corporate Responsibility Report (CRR), titled "Delivering Sustained Value for All Our Stakeholders," offering key insight on the topics considered important by the Company's stakeholders.
Q4 2019 Cooper-Standard Holdings Inc Earnings Call
Q1 2020 Cooper-Standard Holdings Inc Earnings Call
Cooper-Standard Holdings Inc. (NYSE: CPS) ("Cooper Standard," "Company" or "we") today announced the pricing of the private offering by its wholly-owned subsidiary, Cooper-Standard Automotive Inc. (the "Issuer"), of $250.0 million in aggregate principal amount of 13.000% senior secured notes due 2024 (the "Notes"). The Notes will be senior secured obligations of, and will be guaranteed on a senior secured basis by, CS Intermediate HoldCo 1 LLC and each of the Issuer's subsidiaries that are guarantors under the Issuer's senior secured term loan facility. The Notes will also be guaranteed on a senior unsecured basis by Cooper-Standard Latin America B.V., which will also guarantee the Issuer's senior secured term loan facility. The Notes offering is expected to close on May 29, 2020, subject to customary closing conditions.
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Cooper Standard (NYSE:CPS) today announced the appointment of James C. Zabriskie to vice president, global tax and treasurer, effective May 6. Based at the Company's world headquarters in Northville, Mich., he will report to Jonathan Banas, executive vice president and chief financial officer.
Cooper-Standard (CPS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Cooper-Standard Holdings Inc. (NYSE: CPS), a leading global supplier of sealing, fuel and brake, and fluid transfer systems for transportation and industrial markets, today announced it has signed an agreement to divest its European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations, to Mutares SE & Co. KGaA.
To the annoyance of some shareholders, Cooper-Standard Holdings (NYSE:CPS) shares are down a considerable 58% in the...
Cooper-Standard Holdings Inc. (NYSE: CPS), a leading global supplier of sealing, fuel and brake and fluid transfer systems for transportation and industrial markets, today reported certain preliminary financial results for the quarter ended March 31, 2020.