S&P changes Dover outlook to negative

Standard & Poor's said it affirmed Dover Corp.’s A corporate credit rating and all issue-level ratings on its debt.

The outlook was revised to negative from stable.

"The outlook revision reflects our view that weakness in Dover's energy and refrigeration segments could prevent its credit measures from remaining within appropriate levels for the existing ratings – namely a debt-to-EBITDA ratio of less than 2x and a funds from operations to debt ratio of greater than 45% – during the next two years," S&P credit analyst James Siahaan said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.