-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WwmOmQOHmc3VMD5RmYcNv9zycEsZHmCkcwUm6+3UfmMmKjtoq2vhdxbieaiXKgqa g6cJBwDcqtXQHAXeLif80w== 0001189233-07-000119.txt : 20071009 0001189233-07-000119.hdr.sgml : 20071008 20071009094021 ACCESSION NUMBER: 0001189233-07-000119 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070917 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071009 DATE AS OF CHANGE: 20071009 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARVINMERITOR INC CENTRAL INDEX KEY: 0001113256 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 383354643 STATE OF INCORPORATION: IN FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15983 FILM NUMBER: 071161148 BUSINESS ADDRESS: STREET 1: 2135 W MAPLE ROAD CITY: TROY STATE: MI ZIP: 48084 BUSINESS PHONE: 2484351000 FORMER COMPANY: FORMER CONFORMED NAME: MU SUB INC DATE OF NAME CHANGE: 20000501 8-K 1 arm8k100407.htm BOND RATING UPDATE

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): October 4, 2007

 

ARVINMERITOR, INC.

(Exact name of registrant as specified in its charter)

 

 

Indiana

1-15983

38-3354643

 

(State or other jurisdiction

(Commission

(IRS Employer

 

 

of incorporation)

File No.)

Identification No.)

 

 

2135 West Maple Road

Troy, Michigan

(Address of principal executive offices)

 

48084-7186

(Zip code)

 

Registrant’s telephone number, including area code: (248) 435-1000

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 

 

Item 8.01

Other Events.

 

As discussed in the Current Report on Form 8-K of ArvinMeritor, Inc. (“ArvinMeritor”) dated January 19, 2007 and filed January 24, 2007, ArvinMeritor’s corporate credit rating was lowered to Ba3 by Moody’s Investors Service and to BB- by Standard & Poor’s in January 2007. On October 4, 2007, Moody’s lowered ArvinMeritor’s corporate credit rating to B1 from Ba3, and Standard & Poor’s lowered ArvinMeritor’s corporate credit rating to B+ from BB-.

 

As discussed in Note 14 of the Notes to Consolidated Financial Statements and under the heading “Financial Condition - Liquidity” in Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in ArvinMeritor’s Quarterly Report on Form 10-Q for the quarterly period ended July 1, 2007, ArvinMeritor has a $900 million revolving credit facility maturing in 2011. Borrowings under this facility are subject to interest based on quoted LIBOR rates plus a margin, and a commitment fee, all of which are based on ArvinMeritor’s credit ratings. On October 2, 2007, ArvinMeritor and its lenders entered into an amendment to the credit facility that, among other things, increased the margins applicable to outstanding borrowings, as reported in ArvinMeritor’s Current Report on Form 8-K, dated October 2, 2007 and filed on October 4, 2007. As a result of the current ratings and the recent amendment to the credit agreement, the applicable margin over the LIBOR rate increased to 200 basis points from 150 basis points, and the commitment fee increased to 40 basis points from 30 basis points. At September 30, 2007, ArvinMeritor had no borrowings outstanding under this facility.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

ARVINMERITOR, INC.

 

 

By: /s/ Vernon G. Baker, II

 

 

Vernon G. Baker, II

 

 

Senior Vice President

 

and General Counsel

 

Date: October 8, 2007

 

 

 

 

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