Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Worthington Industries Inc. > News item |
S&P lowers Worthington outlook to negative
Standard & Poor's said it revised its outlook on Worthington Industries Inc. to negative from stable.
At the same time, the agency said it affirmed its ratings on the company, including its BBB corporate credit rating.
"The outlook revision reflects weakness in the company's steel processing and metal framing businesses as a result of declining demand in the company's major end markets, autos and commercial construction, due to the current challenging economic environment," said S&P credit analyst Marie Shmaruk.
"We expect this trend to continue in the near term. As a result, the agency said it expects the company's operating performance and credit metrics to deteriorate over the next few quarters to a level we would consider to be weak for the current rating despite aggressive restructuring activities."
© 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.