Fitch affirms Kronos at B+

Fitch Ratings said it affirmed the B+ long-term issuer default ratings of Kronos Worldwide Inc. and its wholly owned subsidiary, Kronos International, Inc.

The outlook is stable.

Fitch said the ratings reflect Kronos' low leverage, low capex requirements and conservative financial strategy.

The company's leverage to the TiO2 industry is a credit concern, but the agency said its expectations for a strong TiO2 market should lead to solid FCF and robust liquidity over the ratings horizon.

© 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.