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S&P: Cyanco view to negative
Standard & Poor’s said it revised the outlook on Cyanco Intermediate Corp. to negative from stable.
The agency also said it affirmed the company’s B corporate credit rating, along with all other ratings.
The outlook revision reflects Cyanco’s weaker-than-expected operating performance in recent quarters and an expectation that Cyanco’s estimated EBITDA for the quarter ended Sept. 30 also will be weak, S&P said.
The lower-than-expected EBITDA in 2014 was primarily the result of the company’s slower expansion in international markets, limited pricing flexibility and lower production levels, the agency said.
S&P said it estimates that the company’s operating performance in 2015 will improve over the prior year, but remain weaker than prior expectations.
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