TriMas Corp. launched the multiyear TBM in late 2016 as a response to internal performance issues and evolving inventory management at distributors. The updated business model reflects an operational shift to single-platform, cost-oriented management of the multisegment company. While the initial efficiencies were realized over the past few years, we expect continued modest EBITDA margin gains from cross-selling opportunities between the segments, improved strategies to refocus on higher-margin products, and lower cost sourcing. Our forecast of TriMas' adjusted-total-debt-to-EBITDA ratio of under 3x provides sufficient debt capacity to undertake moderate acquisitions in the near term without affecting the rating. We expect input-cost inflation to continue in 2019, especially with resins, steel, and aluminum. We believe the company will offset these by
