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Bulletin: Hillenbrand Inc. Rating, Outlook Unchanged On Plan To Buy Rotex Global Aug 11
Standard & Poors, Aug 2011
Abstract
NEW YORK (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that its corporate credit rating on Batesville, Ind.-based Hillenbrand Inc. (BBB/Stable/--) remains unchanged after announcing plans to acquire Cincinnati, Ohio-based Rotex Global LLC for about $240 million. We expect Hillenbrand to use $90 million of cash and to borrow $150 million from its revolver, which was repaid via the note receivable repaid by Forethought Financial Group in April. Rotex manufactures dry separation and screening equipment. We expect the acquisition to add over $90 million of annual revenues growing Hillenbrand's relatively new process equipment segment from 27% to about 34% of consolidated revenues. This segment also includes the K-Tron business, acquired in 2010, which generates over one-half...
Companies mentioned in this report are: Hillenbrand Inc.
Action: Bulletin
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.
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