Good near-term cash flow visibility due to strong customer backlog; Company is a market leader across most of its niche product lines; and Management has successfully improved the company's cost structure and diversified sales, both geographically and by product. High financial leverage: the company will initially be levered at over 6x debt/EBITDA; Cash flows are vulnerable to a downturn of capital expenditures in the industrial gas, natural gas processing, and liquefied natural gas markets; and Given its small size ($347 million in sales), the company has limited scale. The ratings on Chart Industries Inc. reflect the company's aggressive financial leverage and the cyclicality inherent in the industrial gas and natural gas processing markets, i.e. the company's main revenue source. These
