Summary: Park-Ohio Industries Inc.

Standard & Poors, November 2001

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Abstract
The ratings on Park-Ohio Industries Inc. reflect the company's leading niche positions in fragmented and cyclical markets, combined with an aggressively leveraged financial profile. The company operates diversified logistics and manufacturing businesses serving a variety of industrial markets. The logistics segment accounts for 60% of total sales, supplying fasteners and related products via supply chain management and wholesale distribution services to companies in the transportation, electrical, and lawn and garden equipment industries. Manufacturing operations, which account for 40% of sales, include various aluminum components such as transmission pump housings, pinion carriers, and other products supplied primarily to automotive manufacturers. Other manufactured products include crankshafts and camshafts, custom-engineered heating systems, and molded rubber products sold to the aerospace, railroad, automotive, and...

Companies mentioned in this report are: Park-Ohio Industries Inc.
Action: Review

Park-Ohio Industries Inc.

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