Moody's cuts Hawk view to negative

Moody's Investors Service said it changed the outlook of Hawk Corp. to negative from positive.

The company's B2 corporate family and guaranteed senior unsecured note ratings were affirmed, the agency said.

The change in outlook to negative reflects Moody's concerns relating to the extended delays the company has encountered in achieving an effective start-up of its Tulsa friction products facility.

Since it began operations in early 2005, this facility has continued to operate well below the level of operational efficiency that had been anticipated, the agency said.

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