Tekni-Plex Inc. 'B-' Ratings Affirmed, Outlook Revised To Negative On Deteriorating Financial Profile Dec 11
- ID: 2031112
- December 2011
- Standard & Poors
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: Outlook: Negative
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Research type: News
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