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S&P: MetoKote outlook positive
Standard & Poor's said it revised its outlook on MetoKote Corp. to positive from developing and affirmed its ratings on the company, including the CCC+ corporate credit rating.
The agency said the outlook revision reflects its opinion that MetoKote's credit profile could support a higher corporate credit rating if higher auto demand in North America continues.
In the meanwhile, liquidity is constrained, the company lacks significant scope and scale, and its sales remain vulnerable to swings in demand and pricing for industrial coating activity because its operations are concentrated in this niche segment, S&P said.
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