- Language: English
- 339 Pages
- Published: March 2012
- Region: Global
Summary: Park-Ohio Industries Inc.
- ID: 1751489
- January 2004
- Standard & Poors
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.
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.