Fitch affirms Omnova

Fitch Ratings said it affirmed Omnova Solutions Inc.'s credit ratings, including its B+ $165 million senior secured notes and BB- $100 million senior secured credit facility.

Fitch said Omnova's continued weak financial performance and small company size support the ratings affirmation.

The company has been able to withstand the pressure from rapidly rising raw material costs, including costs for styrene, butadiene and PVC resin, by raising product prices, according to Fitch. However, these cost increases have not yet been fully offset, so operating margins remain weak.

© 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.