S&P cuts Hawk outlook to negative

Standard & Poor's said it revised its outlook on Hawk Corp. to negative from stable.

At the same time, S&P said it affirmed its ratings on the company, including its B+ corporate credit rating.

The outlook revision reflects the continuing impact of high costs associated with the relocation and start-up of the company's new manufacturing facility in Tulsa, the agency said.

S&P added that the ratings on Hawk reflect the company's presence in cyclical and competitive end markets, its modest scale of operations and an aggressive financial profile.

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