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Park-Ohio Industries Inc.

  • ID: 1753670
  • March 2011
  • 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: Full Analysis

Abstract
Significant positions in diverse specialty markets; and Some product, end-market, and customer diversity. Exposure to cyclical, competitive markets; Highly leveraged; and Weak cash flow generation. Standard & Poor's Ratings Services' ratings on Cleveland, Ohio-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 serving cyclical and competitive end markets. We expect revenue growth in the high single-digits in 2011, due in part to recent acquisitions. This, combined with a slightly improved, but still weak, operating margin (before depreciation and amortization) of less than 10% should result in debt to EBITDA of 5x-6x, and funds from operations (FFO) to debt in excess of 10%--levels...

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

Note: Product cover images may vary from those shown

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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