S&P Gives Hillenbrand Negative Outlook Because of Batesville Decline
On May 15, 2012, Standard & Poor’s Ratings Services revised its rating outlook on Batesville, Ind.-based Hillenbrand Inc. to negative from stable. The article from Reuters says, “We believe ongoing weakness in the company’s mature burial casket business is placing increased pressure on Hillenbrand to diversify its activities. The growing potential for debt-financed acquisitions increases the possibility that adjusted debt to EBITDA might be sustained above 2x, which would be beyond our guideline for a “modest” financial risk profile.”
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