Research Update: TAMKO Building Products LLC Outlook Revised To Stable From Negative On Solid Earnings Improvement; 'BB-' Rating Affirmed - S&P Global Ratings’ Credit Research

Research Update: TAMKO Building Products LLC Outlook Revised To Stable From Negative On Solid Earnings Improvement; 'BB-' Rating Affirmed

Research Update: TAMKO Building Products LLC Outlook Revised To Stable From Negative On Solid Earnings Improvement; 'BB-' Rating Affirmed - S&P Global Ratings’ Credit Research
Research Update: TAMKO Building Products LLC Outlook Revised To Stable From Negative On Solid Earnings Improvement; 'BB-' Rating Affirmed
Published Mar 12, 2021
8 pages (2949 words) — Published Mar 12, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

TAMKO Building Products LLC's credit measures are commensurate for the rating, with adjusted leverage of 4x-5x. Significant cash flow growth from strong product demand and lower raw material and other costs support results, and a proposed $250 million add-on to fund a dividend distribution to the owners offsets solid business performance. We are revising the outlook to stable from negative, reflecting our expectation that strong earnings momentum will continue in 2021, with credit measures adequate for the rating in spite of higher debt. We are also affirming the 'BB-' issuer credit rating and our 'BB-' rating on TAMKO's first-lien term loan. Further, similar to its peers, TAMKO implemented mid-single-digit percentage price increases during the first two months of 2021. We

  
Brief Excerpt:

...- TAMKO Building Products LLC's credit measures are commensurate for the rating, with adjusted leverage of 4x-5x. - Significant cash flow growth from strong product demand and lower raw material and other costs support results, and a proposed $250 million add-on to fund a dividend distribution to the owners offsets solid business performance. - We are revising the outlook to stable from negative, reflecting our expectation that strong earnings momentum will continue in 2021, with credit measures adequate for the rating in spite of higher debt. - We are also affirming the '##-' issuer credit rating and our '##-' rating on TAMKO's first-lien term loan....

  
Report Type:

Research Update

Issuer
GICS
Building Products (20102010)
Sector
Global Issuers
Country
Region
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: TAMKO Building Products LLC Outlook Revised To Stable From Negative On Solid Earnings Improvement; 'BB-' Rating Affirmed" Mar 12, 2021. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-TAMKO-Building-Products-LLC-Outlook-Revised-To-Stable-From-Negative-On-Solid-Earnings-Improvement-BB-Rating-Affirmed-2610010>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: TAMKO Building Products LLC Outlook Revised To Stable From Negative On Solid Earnings Improvement; 'BB-' Rating Affirmed Mar 12, 2021. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-TAMKO-Building-Products-LLC-Outlook-Revised-To-Stable-From-Negative-On-Solid-Earnings-Improvement-BB-Rating-Affirmed-2610010>
  
US$ 225.00
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