S&P: TriMas outlook positive

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

The outlook revision to positive reflects the potential for an upgrade if TriMas continues to perform better than our expectations for the B+ rating, according to the agency.

"We believe TriMas will likely continue to benefit from improving operating performance while end-market conditions remain mixed, leading to free cash flow generation of more than $50 million in 2011," S&P analyst John Sico said in a statement.

"This will likely result in leverage of less than 3.0x within the next year."

Ratings reflect the company's improved credit measures as operating performance strengthens and it continues to pay down debt, the agency noted.

Ratings also reflect the company's presence in highly competitive and cyclical markets, S&P said.

The company has leading positions in certain focused markets, a relatively diverse array of products and end markets, and a track record of average profitability support the ratings, the agency 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.