Research Update: Gardner Denver Inc. Ratings Affirmed, Then Withdrawn At Company's Request

Standard & Poors, May 2011

Abstract
Wayne, Pa.-based Gardner Denver Inc. (GDI) has demonstrated good operating performance and credit measures through the downturn. In addition, the company's adherence to a prudent financial policy has resulted in better credit measures than our expectations for the rating. We are affirming our 'BB' corporate credit rating on GDI. Subsequently, we are withdrawing the ratings at the company's request. The outlook was positive at the time of withdrawal. On May 16, 2011, Standard & Poor's Rating Services affirmed its ratings, including the 'BB' corporate credit rating, on GDI. Subsequently, we withdrew the ratings at the company's request. The outlook was positive at the time of withdrawal. The rating affirmation on GDI reflects the company's improving end-markets and its progress in...

Companies mentioned in this report are: Gardner Denver Inc.
Action: Withdrawn

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Gardner Denver Inc.

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