- Language: English
- 101 Pages
- Published: March 2011
- Region: Middle East
Research Update: DBO Holdings Inc. Ratings Placed On CreditWatch Negative On Risk Of Covenant Breach Apr 10
- Published: April 2010
- Standard & Poors
Because of the significant increase in steel prices, it is our assessment that U.S.-based tubular products manufacturer DBO Holdings' LIFO earnings will likely be weaker than previously expected. The risk of a potential covenant breach of the company's net leverage covenant governing its bank credit facility, which utilizes LIFO EBITDA in its calculation, has increased. We are placing our ratings on DBO, including its 'B' corporate credit rating, on CreditWatch with negative implications. On April 15, 2010, Standard & Poor's Ratings Services placed its ratings, including its 'B' corporate credit rating, on Beachwood, Ohio-based tubular products manufacturer DBO Holdings Inc. on CreditWatch with negative implications. The CreditWatch listing reflects our assessment that DBO Holdings' LIFO EBITDA, which is utilized for...
Companies mentioned in this report are: JMC Steel Group Inc.,JMC Steel Group
Action: On CreditWatch:Negative
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.
SHOW LESS READ MORE >
JMC Steel Group Inc.,JMC Steel Group
|Electronic||The report will be emailed to you.|