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Park-Ohio Industries Inc. Upgraded To 'B+' From 'B' On Reduced Debt Product Image

Park-Ohio Industries Inc. Upgraded To 'B+' From 'B' On Reduced Debt

  • ID: 1751941
  • December 2006
  • Standard & Poors

FEATURED COMPANIES

  • Park-Ohio Industries Inc.
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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) Dec. 14, 2006--Standard & Poor's Ratings Services raised its ratings on Park-Ohio Industries Inc., including its corporate credit rating to 'B+' from 'B'. The outlook is stable. "The upgrade reflects the company's lower financial leverage and improved performance," said Standard & Poor's credit analyst Clarence Smith. The ratings on Park-Ohio continue to reflect the company's highly leveraged financial profile which more than offsets the company's business profile as a diversified operator of logistics and manufacturing businesses serving cyclical and competitive end markets. The company is expected to remain highly leveraged as free cash flow generation constrains working capital needs to continue supporting growth. The ratings on Park-Ohio continue to reflect the company's highly leveraged financial...

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

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Park-Ohio Industries Inc.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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