S&P lowers Thermadyne view to stable

Standard & Poor's said it revised the outlook on Thermadyne Holdings Corp. to stable from positive and affirmed the B corporate credit rating.

The agency also said it affirmed the B rating and 5 recovery rating on the company's senior secured notes.

The outlook revision reflects a view that although Thermadyne continues to benefit from increasing demand, its plan to return cash to its sponsor shareholders increases its financial risk, S&P said.

The ratings also reflect the company's business risk profile as weak and its financial risk profile as highly leveraged, the agency said.

The company may also have to contend with rising raw material prices, specifically for copper, brass and steel, which may affect its operating performance, S&P said.

© 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.