Tekni-Plex Inc. 'B-' Ratings Affirmed, Outlook Revised To Negative On Deteriorating Financial Profile Dec 11

  • ID: 2031112
  • December 2011
  • Standard & Poors
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U.S.-based packaging manufacturer Tekni-Plex Inc.'s financial profile has deteriorated in recent quarters due to its limited ability to pass through raw material price increases, leading to strained headroom under its financial covenants. We are affirming our ratings, including the 'B-' corporate credit rating, on Tekni-Plex and revising the outlook to negative from stable. The negative outlook reflects the potential for lower ratings if the company is not able to overcome a difficult operating environment to improve earnings, liquidity, and headroom under its financial covenants. NEW YORK (Standard & Poor's) Dec. 12, 2011--Standard & Poor's Ratings Services said today it revised its outlook on King of Prussia, Pa.-based Tekni-Plex Inc. to negative from stable and affirmed its ratings, including the 'B-'...

Companies mentioned in this report are:
- Tekni-Plex Inc.
- Oaktree Capital Management L.P.

Action: Affirmed
Action: Outlook: 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.

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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- Tekni-Plex Inc.
- Oaktree Capital Management L.P.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown




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