S&P boosts OM Group outlook to positive

Standard & Poor's said it revised its outlook on OM Group Inc. to positive from stable.

The agency said it also affirmed the B+ corporate credit rating on OM Group.

S&P noted that the outlook revision reflects the potential for a strengthening of the business risk profile as management invests the proceeds from the planned sale of its nickel assets into businesses capable of delivering more stable and predictable earnings.

"Moreover, there are indications that management's financial policies and approach to strategic acquisitions favor less reliance on debt as it transforms OM Group's business model," said S&P credit analyst Wesley E. Chinn.

© 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.