S&P: Eco-Bat view positive

Standard & Poor's said it revised the outlook on Eco-Bat Technologies Ltd. to positive from negative. The long-term corporate credit and senior secured debt ratings were affirmed at B+.

The outlook revision reflects Eco-Bat's healthy financial performance and stronger credit ratios during 2007 and the first quarter of 2008, S&P said.

Ratings reflect Eco-Bat's relatively concentrated business, exposure to cyclical and volatile lead prices, dependence on a few large customers and uncertainty regarding possible future payments to shareholders, the agency said.

These weaknesses are mitigated by the group's leading market position, healthy profitability, reducing leverage and good liquidity, S&P noted.

© 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.