Summary: Maxim Crane Works L.P. Feb 13
- ID: 2417158
- February 2013
- Standard & Poors
The ratings on Bridgeville, Pa.-based Maxim Crane Works L.P. (Maxim) reflect the company's "highly leveraged" financial risk profile, marked by its high debt levels stemming from its aggressive financial policy. Standard & Poor's Ratings Services also considers Maxim's "weak" business risk profile, characterized by its participation in the cyclical, highly competitive, and fragmented crane rental industry. We believe its status as the largest and only coast-to-coast provider of cranes and lifting equipment rentals in North America only partly offsets these factors. Although operating performance has improved modestly over the past few quarters and the company has been able to successfully amend and refinance its asset-based loan (ABL) credit facility late last year, it continues to operate with credit metrics that...
Companies mentioned in this report are:
- Maxim Crane Works L.P.
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