Exposure to the highly cyclical and very competitive gas processing market Small size and scale compared with larger players in the capital equipment industry Diversification benefits from company's exposure to the medical end-market and its global footprint Solid debt ratios and low capital spending requirements Strong liquidity profile We consider an upgrade or downgrade unlikely at least over the next 12 months based on our expectation that business conditions will remain solid, resulting in moderate financial leverage. We could lower the rating if we forecast that projected FFO to debt will be below 20% or debt to EBITDA above 4x with no prospect for improvement. We consider this scenario unlikely based on our current assumptions and expectations, along with the
