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Texas Industries Inc. Jan 12
Standard & Poors, January 2012
Leading position in two large cement markets with good long term demand characteristics; and Adequate liquidity profile supported by cash and committed borrowing capacity and negligible near-term maturities. Cyclically low demand and weak pricing for the company's commodity products; A high debt balance and EBITDA that is at a cyclical low, which leads to our assessment of its financial risk profile as "highly leveraged;" and High expansion and maintenance capital needs. The rating on Dallas-based Texas Industries Inc. reflects Standard & Poor's Ratings Services assessment of the cement and aggregates company's financial risk profile as "highly leveraged" and business risk profile as "weak" (as our criteria define these terms). Our highly leveraged financial risk assessment acknowledges risks associated with the...
Companies mentioned in this report are: Texas 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
Texas Industries Inc.