Strong liquidity for the rating of more than $150 million cash; and Low capital expenditure requirements of generally less than $20 million per year. 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 (approximately $700 million in sales), the company has limited scale; and 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 to 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 strong liquidity for the
