The improved terms and extended maturity of the ABL facility are a clear positive for CPS's credit profile and liquidity runway. Traders should monitor for any upcoming earnings release or guidance update to assess whether the improved financing backdrop supports a fundamental turnaround narrative.
Price Chart
Executive Summary
Cooper-Standard Holdings (CPS) entered into Amendment No. 6 to its ABL credit facility, increasing total commitments by $20M to $200M and extending the maturity date to September 3, 2031. The amendment also reduces applicable interest rate margins and removes credit spread adjustments on SOFR and CORRA, improving the company's liquidity profile and lowering borrowing costs. This is a credit-positive event that enhances financial flexibility without any earnings data or operational changes.
Key Financial Metrics
Key Facts
- Total ABL commitments increased by $20M to $200M.
- Maturity extended to September 3, 2031 (from May 6, 2029).
- Applicable margin on SOFR/CORRA loans reduced to 1.50%-2.00% (from 1.75%-2.50%).
- Applicable margin on base rate/prime rate loans reduced to 0.50%-1.00% (from 0.75%-1.50%).
- Credit spread adjustments on SOFR and CORRA removed.
- Unused line fee rate reduced to 0.25%-0.375% (from 0.375%-0.50%).
Financial Impact
$20M increase in total ABL commitments to $200M; interest rate margins reduced by 25-50 basis points across all pricing levels.
Risk Factors
- No financial results or guidance were provided in this filing; the positive impact is purely structural and credit-based.
- The auto parts sector remains cyclical and exposed to macroeconomic headwinds that could offset the benefit of cheaper financing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001320461-26-000119 |
| Document: cps-20260903.htm | 0001320461-26-000119 |
| Document: 0001320461-26-000119-index-headers.html | 0001320461-26-000119 |
| Document: 0001320461-26-000119-index.html | 0001320461-26-000119 |
| Document: 0001320461-26-000119.txt | 0001320461-26-000119 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 24, 2026 4w ago | Press Release | $22.70 $20.39 | ▼ −10.18% | ▼ −8.70% | $20.39 (−10.18%) |
Sep 10, 2026 6w ago | 8-K | $23.70 $21.67 | ▼ −8.57% | ▼ −10.69% | $20.39 (−13.97%) |
Aug 6, 2026 11w ago | 8-K | $27.63 $26.62 | ▲ +3.66% | ▲ +4.26% | $20.39 (+26.20%) |
Aug 5, 2026 11w ago | Press Release | $27.63 $26.62 | ▲ +3.66% | ▲ +4.26% | $20.39 (+26.20%) |
May 7, 2026 24w ago | 8-K | $30.49 $30.08 | ▲ +1.34% | ▲ +4.48% | $20.39 (+33.13%) |
Apr 2, 2026 29w ago | DEFA14A | $28.66 $30.07 | ▲ +4.92% | ▼ −4.96% | $20.39 (−28.86%) |
Mar 4, 2026 33w ago | 8-K | $33.51 $28.66 | ▼ −14.47% | ▼ −10.68% | $20.39 (−39.15%) |
Feb 28, 2026 34w ago | Institutional Cluster | $37.50 $26.47 | ▲ +29.41% | ▲ +21.48% | $20.39 (+45.63%) |
US Market Status
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