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Recovery Report: Gibraltar Industries Inc.'s Recovery Rating Profile Dec 11
Standard & Poors, December 2011
We have updated our recovery analysis on U.S.-based building products manufacturer and distributor Gibraltar Industries Inc.'s (Gibraltar) following a raise in the corporate credit rating. We revised our recovery rating on the senior subordinated notes to reflect higher potential recovery prospects and raised our issue rating on the notes in line with having raised the corporate credit rating. Standard & Poor's Ratings Services' simulated default scenario contemplates a default occurring in 2015, in the wake of a continued downturn in residential construction and the accompanying loss of a meaningful portion of Home Depot Inc.'s business. (For Standard & Poor's recovery rating methodology, see "Criteria Guidelines For Recovery Ratings-," published Aug. 10, 2009, on RatingsDirect on the Global Credit Portal.) The...
Companies mentioned in this report are: Gibraltar Industries Inc.
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: Full Analysis
Gibraltar Industries Inc.