Polymer Group Inc. Sep 09
Standard & Poors, September 2009
Abstract
Good positions in niche markets; Geographic diversity; and The likelihood that the company will realize benefits from recent capacity expansions. Highly leveraged; Significant exposure to volatile polypropylene costs; and Significant customer concentration. The ratings on Charlotte, N.C.-based Polymer Group Inc. reflect a weak business risk profile, highly leveraged financial profile, and financial covenant relief from its recently completed amendment. In addition to extending maturities, the amendment provided for the removal of future tightening in the financial covenants, freezing the leverage covenant at 3.5x and interest coverage at 3x. With annual revenues of about $1 billion and $458 million of total adjusted debt, Polymer Group manufactures nonwoven products used in disposable consumer applications including baby diapers, feminine hygiene products, and household...
Companies mentioned in this report are: Polymer Group Inc.
Action: Review
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
Polymer Group Inc.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
