Moody's changes RPM outlook to positive

Moody's Investors Service said it affirmed RPM International Inc.’s Baa3 long-term senior unsecured debt ratings and changed the outlook to positive from stable.

The improved outlook reflects RPM's improved credit metrics despite customer inventory destocking and the relatively soft macroeconomic environment in calendar 2023 that have hit most other chemical companies, the agency said.

"Continued execution of its Margin Achievement Plan (MAP 2025) along with lower raw material and energy costs have allowed RPM to report stronger earnings and cash flow despite a tough macroeconomic environment," said John Rogers, a Moody's senior vice president and lead analyst for RPM, in a press 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.