DBO Holdings Inc. Ratings Lowered; Outlook Is Stable May 09
Standard & Poors, May 2009
Abstract
-- DBO Holdings' shipment volumes have declined as a result of weak end market demand. -- We expect the company's leverage to increase significantly over the next few quarters. -- We are lowering our rating on this tubular products manufacturer to 'B' from 'B+'. -- The stable outlook reflects our expectations that DBO Holdings will maintain an adequate liquidity position. NEW YORK (Standard & Poor's) May 28, 2009--Standard & Poor's Ratings Service said today that it lowered its corporate credit rating on DBO Holdings, Inc. to 'B' from 'B+'. At the same time, the rating on the company's $400 million asset based revolving credit facility due 2011 was lowered to 'BB-' from 'BB' and the rating on the $1.3 billion...
Companies mentioned in this report are: JMC Steel Group Inc.
Action: Downgraded
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.
JMC Steel Group Inc.
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