Summary: Reddy Ice Holdings Inc. Jan 12
Standard & Poors, January 2012
Abstract
Standard & Poor's Ratings Services' ratings on Reddy Ice Holdings Inc. reflect our opinion that the company's financial profile is highly leveraged, given its significant debt burden and less-than-adequate liquidity. The ratings also reflect our assessment of the company's vulnerable business risk profile stemming from our view that the company has a narrow product focus; its participation in the highly fragmented and competitive packaged ice industry, which is susceptible to unfavorable economic and weather conditions; and seasonal demand for its products. (For analytical purposes Standard & Poor's views Reddy Ice and its wholly owned operating subsidiary, Reddy Ice Corp., as one economic entity.) Although Reddy Ice maintains a strong regional presence in the North American wholesale packaged ice industry, the...
Companies mentioned in this report are: Reddy Ice Holdings Inc.
Action: Review
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.
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.
Reddy Ice Holdings Inc.
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