Park-Ohio Industries Inc. Outlook Revised To Positive On Improving Credit Measures; 'B' Rating Affirmed Feb 13
- Language: English
- Published: February 2013
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The ratings on Cleveland, Ohio-based Park-Ohio Industries Inc. reflect the company's aggressive leverage and the cyclical, competitive nature of its end-markets, partly offset by the company's significant position in diverse, specialty markets. Park-Ohio, a wholly owned subsidiary of Park-Ohio Holdings Corp., operates logistics and manufacturing businesses, serving a variety of markets, including transportation, semi-conductor, industrial equipment, agricultural equipment, construction equipment, and aerospace. The logistics segment (63% of 2002 sales) supplies production components via supply chain management and wholesale distribution services; the manufacturing segment (21%) designs and produces forged and machined products for specific customer applications; and the aluminum segment (17%) engineers, casts, and machines various aluminum components. The company had total balance sheet debt of $317 million at Sept. 30,...
Companies mentioned in this report are: Park-Ohio Industries Inc.
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Park-Ohio Industries Inc.