S&P: Rexnord new now stable

Standard & Poor’s said it revised its outlook on Rexnord LLC to stable from positive and affirmed its ratings on the company, including the BB- corporate credit rating.

“The outlook revision reflects our view that the company is likely to maintain higher leverage over the next 12 months than our previous expectation of debt to EBITDA below 4x,” said S&P credit analyst Svetlana Olsha in a news release. “Given our expectation for continued tepid end-market demand, we believe leverage will remain between 4x and 5x during the next 12 months.”

© 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.