S&P: Dayton Superior on positive watch

Standard & Poor's said it placed its ratings on Dayton Superior Corp., including its B- corporate credit rating, on CreditWatch with positive implications.

The agency said that the CreditWatch listing reflects significant improvements in both the company's operating performance and credit measures over the past several quarters.

These improvements are due to the combination of aggressive cost controls, meaningful debt reduction as a result of Dayton Superior's December 2006 IPO and improvement in operating income, S&P said.

In addition, the agency said it expects that good demand in the company's end markets should provide an operating environment whereby credit measures, specifically debt to EBITDA, will likely improve from the current level, which was still a somewhat aggressive 5.6x at March 31.

© 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.