Summary: Park-Ohio Industries Inc.

Standard & Poors, March 2010

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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 Cleveland-based Park-Ohio Industries Inc. reflect the company's highly leveraged financial risk profile and its weak business risk profile as a diversified operator of logistics and manufacturing businesses, which serve cyclical and competitive end markets. Park-Ohio, a wholly owned subsidiary of unrated Park-Ohio Holdings Corp., operates three business segments that serve a variety of end markets, including transportation, semiconductors, industrial equipment, agricultural equipment, construction equipment, and aerospace. The supply technologies segment (formerly known as integrated logistics service), which generates about 47% of the company's sales, supplies production components via supply-chain management and wholesale distribution services. The manufacturing products segment (about 38% of sales) designs and produces forged and machined products for specific customer applications. The aluminum-products segment engineers,...

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

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