• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Park-Ohio Industries Inc. Outlook Revised to Positive, Proposed Notes Rated 'CCC+' Product Image

Park-Ohio Industries Inc. Outlook Revised to Positive, Proposed Notes Rated 'CCC+'

  • ID: 1751605
  • November 2004
  • Standard & Poors

FEATURED COMPANIES

  • Park-Ohio Industries Inc.
  • MORE

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) Nov. 17, 2004--Standard & Poor's Ratings Services said today that it assigned its 'CCC+' senior subordinated debt rating to Cleveland, Ohio-based Park-Ohio Industries Inc.'s proposed issuance of $200 million of senior subordinated notes due 2014. At the same time, Standard & Poor's revised its outlook on Park-Ohio to positive from stable and affirmed its 'B' corporate credit rating on the company. "The outlook change reflects Park-Ohio's improving operational performance due to recovering industry fundamentals that are producing stronger earnings and funds from operations," said Standard & Poor's credit analyst Nancy Messer. "As economic strength in Park-Ohio's end-markets continues, earnings and cash generation should improve to levels consistent with the rating into 2005. Over the next...

Companies mentioned in this report are: Park-Ohio Industries Inc.
Action: Affirmed
Action: New Rating
Action: Outlook: Positive

Note: Product cover images may vary from those shown

RELATED PRODUCTS