- Language: English
- 98 Pages
- Published: May 2011
- Region: Russia
Research Update: Gundle/SLT Environmental Inc. Ratings Taken Off Watch, Raised To 'B' From 'B-' After Successful IPO; Outlook Positive Mar 12
- Published: March 2012
- Standard & Poors
U.S. geosynthetic liner producer Gundle/SLT Environmental Inc. (GSE) has successfully completed its IPO. The company used a significant portion of the proceeds to reduce debt. We are removing our ratings on GSE from CreditWatch and raising our corporate credit rating to 'B'. We are assigning a stable outlook, which incorporates our expectation of solid end-market demand and operating performance despite high material costs, with the company's funds from operations to adjusted debt ratio remaining near 15%. On March 15, 2012, Standard & Poor's Ratings Services removed its ratings on Houston-based Gundle/SLT Environmental Inc. (GSE) from CreditWatch, where we placed them with positive implications on Nov. 30, 2011, after the company announced its IPO filing. We then raised our corporate credit...
Companies mentioned in this report are: Gundle/SLT Environmental Inc.
Action: Outlook: Positive
Action: Removed From CreditWatch
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Product Type: Research Update
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Gundle/SLT Environmental Inc.