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Bulletin: CPG International Inc. Ratings Not Affected By IPO Filing
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) April 25, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on CPG International Inc. (B/Positive/--) are not immediately affected by the company's announcement that it filed with the U.S. Securities and Exchange Commission to raise up to $150 million in an initial public offering (IPO). The Scranton-Pa.-based company plans to use the net proceeds it receives from the offering to reduce its debt. Our ratings outlook currently reflects our view that if operating results continue to improve along with a gradual recovery in U.S. housing markets and prepayment of term loan debt from projected free cash flow generation occurs, then adjusted leverage could approach 4x or lower by the end of...
Companies mentioned in this report are: CPG International Inc.
Action: Bulletin
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