Credit Analysis: Flowserve Corporation - Full Rating Report - 2008/05/01 - Fitch Research

Report title: Credit Analysis: Flowserve Corporation

from Fitch Research
7 page (3435 word) report published May 01, 2008

Price $425.00 available for immediate download

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...The recent revision to a Positive Rating Outlook reflects Flowserve Corporation s (Flowserve) improving operating performance, substantial progress toward resolving concerns about contingent litigation liabil ities and financial reporting, and Fitch s expectation that the company intends to main tain disciplined fina ncial policies that should support modest leverage. An upgrade in Flowserve s ratings will be contingent on continued strong financia l results, effective execution of its operating strategies, reasonable clarity abou t contingent litigation liabilities, and disciplined cash deployment. Operating results have bene fited from strong demand across most of Flowserve s businesses, particularly in its important energy and water markets. Flowserve has also benefited from better operating leverage related to the increase in sales volumes and from its focus on implement ing stronger information systems and financial controls. Ratings are supported by Flowserve s...

Report Type:

Full Rating Report

Company(ies):

Flowserve Corporation

Ticker(s):

FLS

Issuer:

Flowserve Corporation

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Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.

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