Hyster-Yale Materials Handling Inc. Assigned 'B+' Corporate Credit Rating, Stable Outlook; Debt Ratings Assigned

We are assigning ratings to U.S.-based lift truck manufacturer Hyster-Yale Materials Handling Inc. We are assigning a 'B+' corporate credit rating. The outlook is stable. In addition, we are assigning a 'BB' issue-level rating and '1' recovery rating to the proposed $200 million term loan B due 2023 being issued by subsidiary Hyster-Yale Group Inc. The stable outlook reflects our expectation that Hyster-Yale will maintain an adjusted debt to EBITDA metric of between 3x-4x while generating a funds from operations (FFO) to total debt ratio of between 20-30% over the next 12 months. NEW YORK (S&P Global Ratings) May 5, 2017--S&P Global Ratings today assigned its 'B+' corporate credit rating to Hyster-Yale Materials Handling Inc. The outlook is stable. At

...+ We are assigning ratings to U.S.-based lift truck manufacturer Hyster-Yale Materials Handling Inc. + We are assigning a 'B+' corporate credit rating. The outlook is stable. + In addition, we are assigning a '##' issue-level rating and '1' recovery rating to the proposed $200 million term loan B due 2023 being issued by subsidiary Hyster-Yale Group Inc. + The stable outlook reflects our expectation that Hyster-Yale will maintain an adjusted debt to EBITDA metric of between 3x-4x while generating a funds from operations (FFO) to total debt ratio of between 20-30% over the next 12 months. NEW YORK (S&P Global Ratings) May 5, 2017--S&P Global Ratings today assigned its 'B+' corporate credit rating to Hyster-Yale Materials Handling Inc. The outlook is stable. At the same time, we assigned our '##' issue-level rating and '1' recovery rating to the company's proposed $200 million term loan B due 2023 being issued by subsidiary Hyster-Yale Group Inc. The '1' recovery rating indicates our expectation...

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