Financial leverage has improved to less than 2.5x debt to EBITDA as of June 30, 2008 The company maintains good near-term cash flow visibility because of strong customer backlog Cash flows are vulnerable to a downturn of capital expenditures in the industrial gas, natural gas processing, and liquefied natural gas markets Given its small size ($700 million in sales), the company has limited scale Orders in the company's energy and chemicals segment can be uneven The rating on Chart Industries Inc. reflects the company's small size, cyclicality inherent in the industrial gas and natural gas processing market, and a somewhat uneven revenue stream in the company's energy and chemicals segment. The rating also reflects Chart's strong operating performance and significant
