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Recovery Report: Vulcan Materials Co.'s Recovery Rating Profile Jun 12
Standard & Poors, June 2012
We are updating our recovery analysis on U.S.-based construction aggregates producer Vulcan Materials Co. (Vulcan), following our removal of its corporate credit rating from CreditWatch, where it had been placed with positive implications on Dec. 13, 2011. Our issue-level and recovery ratings on the company's senior notes and medium-term notes remain unchanged. Standard & Poor's Ratings Services' simulated default scenario contemplates a default in 2016, in the wake of extremely weak commercial and residential construction and substantially reduced federal government funding for highways and other public-sector construction projects. (For Standard & Poor's recovery rating methodology, see "Criteria Guidelines For Recovery Ratings," published Aug. 10, 2009, on RatingsDirect.) Our analysis reflects the company's capital structure as of March 31, 2012: We...
Companies mentioned in this report are: Legacy Vulcan Corp.,Florida Rock Industries, Inc.,Vulcan Materials Co.
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
Legacy Vulcan Corp.,Florida Rock Industries, Inc.,Vulcan Materials Co.