Summary: Global Brass And Copper Inc. Sep 11

Standard & Poors, September 2011

Abstract
The corporate credit rating on Schaumburg, Ill.-based Global Brass and Copper Inc. (GBC) reflects the combination of what we consider to be the company's vulnerable business risk profile and aggressive financial risk profile. The company is exposed to cyclical end markets, including building and construction, defense, electrical and electronics, and industrial machinery and equipment, which can result in wide variations in operating performance throughout a business cycle. In addition, the company's vulnerable business risk profile reflects its relative small scale and scope compared with other metals producers and distributors. The rating also takes into consideration our view that the company should have adequate liquidity to meet its near-term obligations, that it has long-standing customer relationships, and that it has improved...

Companies mentioned in this report are: Global Brass and Copper Inc.
Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Global Brass and Copper Inc.

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