OMNOVA Solutions Inc.
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: Full Analysis
Abstract
Diverse product mix; and Favorable debt maturity profile. Concentration of sales to cyclical end markets; Exposure to volatile raw material costs; and Highly leveraged balance sheet. The ratings on OMNOVA Solutions Inc. reflect the company's weak business position as a niche provider of emulsion polymers, specialty chemicals, and decorative products, the commodity nature for a material portion of its products, and some exposure to mature and competitive cyclical end markets. Our ratings on OMNOVA also reflect some of its exposure to volatile raw material costs, many of which are derived from oil and natural gas, and its aggressive financial profile after the Eliokem acquisition. Offsetting these factors are the benefits of the Eliokem acquisition, the company's competitive business positions as...
Companies mentioned in this report are: OMNOVA Solutions Inc.
Action: Review
OMNOVA Solutions Inc.
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