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BULLETIN: Collins & Aikman Makes Acquisition Jan 03
Standard & Poors, Jan 2003
Abstract
Standard & Poor's Ratings Services said today that Collins & Aikman Corp.'s (BB-/Stable/-) announcement that it has paid 15 million Euros to acquire a plastic injection molding plant has no effect on its ratings or outlook on the company. The 300,000 sq. ft. facility, located in Logrono, Spain, expands the company's geographic footprint and will allow it to service vehicle manufacturers in the growing, low-cost region. While the acquisition modestly weakens Collins & Aikman's liquidity, financial flexibility remains adequate, provided by cash balances and availability under a bank credit facility and an accounts receivable securitization facility....
Companies mentioned in this report are: Collins & Aikman Corp.
Action: S&P Event
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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