S&P still may cut Hawk

Standard & Poor's said Hawk Corp.'s B corporate credit rating remains on CreditWatch with developing implications, where they were placed July 2.

"Hawk's board of directors continues to explore and consider possible strategic alternatives to improve shareholder value, including a possible sale of the company. The company has retained a financial advisor to assist in this process," S&P analyst Gregoire Buet said in a statement.

As of June 30, Hawk's credit measures had improved to about 2 times total adjusted debt to EBITDA.

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