Fitch revises Kennametal view to stable

Fitch Ratings said it changed the outlook to stable from negative and affirmed Kennametal Inc.'s long-term issuer default rating, bank credit facility and senior unsecured notes at BBB.

“The outlook revision to stable from negative reflects the expected recovery in KMT's sales and margins over the next year as demand conditions improve, though the recovery could be uneven. The company is better positioned as a result of its significant restructuring actions designed to drive growth, reduce costs and modernize the manufacturing footprint,” Fitch said in a press release.

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