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With an uptick in distressed debt exchanges (DE), we thought it would be best to explain what they are, why companies use them, and how they impact credit risk.

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ProfitGuard Announces Its Expansion Further into the Industrial Sector

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The pandemic driven economic downturn adversely affected numerous industries across the globe. The automotive industry was not immune and was one of the hardest hit as manufacturers idled production for two months during the early stages of the outbreak. We are starting to see some stabilization but expect volumes to remain low in the near

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ProfitGuard's new enhancements help you better predict future payment performance, minimize default risk, and integrate more trade data into your decision making process with our improved portfolio analysis toolset.

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Companies in the metals and manufacturing segments typically rely on borrowing for working capital and funding purposes. If you are securing regular bank updates on your customers, you have probably noticed Asset-Based Lending (ABL) agreements.

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While adverse opinions are generally rare because companies typically conform to auditor desires, they still exist when the accounting firm believes there is substantial doubt that the company can continue as a going concern due to financial or operating problems.

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Globalization. A term used to describe the increasing connectedness and interdependence of world cultures and economies. As the United States enters its fourth month battling COVID-19, disruptions from the pandemic have practically silenced this interconnectedness. In response, manufacturing companies are rethinking their global supply chains.

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The old saying that cash is king has never been truer, in fact, it’s not only king it's queen, prince, and the whole royal family. As we have seen in many crises of the past, liquidity and access to it, is paramount to the survival of business operations.

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As the pandemic continues to dominate global headlines, we would like to focus on positive data being reported. Encouraging headlines are slowing beginning to emerge, and forecasts indicate the beginning of a recovery in the second half of year as the slow process of reopening the economy takes shape.

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COVID-19 has dominated the news cycle as it continues to impact the global economy. The stock market has wiped out years of gains in just a few days, many industries are coming to a standstill by suspending production temporarily, and countries are shutting down their borders for all nonessential travel.

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Below we will discuss the latest insights and news impacting the metals and manufacturing sector. As we continue into 2020, we’ve seen businesses sharpen their focus with divestitures and M&A activity. We’ve also seen businesses close their doors.

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2019 was a turbulent year for the metals sector. Metal prices tumbled to multi year lows after reaching record highs the previous year. Trade talks dominated the news and despite reducing imports, tariffs did little to support metal prices.

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Customer visits have numerous benefits and there is nothing like in-person interaction to help build a trusting relationship. Taking the time and making the effort to visit will help you better  understand your customers. A visit provides an up-close view of the customer and their business.

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Managers face important decisions every day, decisions that may affect the future of the company. This is especially true when business owners need to make risk management decisions. Different management styles can lead to avoiding, reducing, transferring, or accepting these risks.

ProfitGuard   — September 2019

As of July 2019, the current business cycle which began in June of 2009, reached a historic record as the longest U.S. economic expansion on record as it hit 121 months. As a refresher, a typical business cycle has four parts, expansion, peak, contraction, and trough.

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The month of August saw some acquisitions in the scrap metal segment and JSW Steel USA put its backward integration and new EAF plant on hold due to current market conditions. Meanwhile, the oil and gas industry continues to reel from volatile energy prices plaguing the segment.

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Working capital management is an area that most companies can improve on to help generate cash and boost liquidity. It measures a company’s ability to pay off shortterm expenses or debts, as well as the company’s potential for growth.

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There are many different types of bankruptcy a distressed company may utilize; however, two of the most common forms are Chapter 11 and Chapter 7.

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Steel prices and aluminum premiums have faced headwinds this past year despite the support of U.S. tariffs. With the U.S. removing tariffs on Canada and Mexico, prices are set to face additional pressure, which will impact companies’ earnings and credit metrics.

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The one constant in the scrap industry is that it is always changing. In this webinar we discussed the concepts of credit risk, the steps you should take to mitigate these risks and why it's dangerous to be complacent. View PG’s Webinar hosted by ISRI on May 15, 2019.

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As a credit manager, you want to keep a tight leash on accounts receivable during the last inning of the current credit cycle. What steps can you take to be proactive?

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Make no mistake, the corporate credit climate is changing. We are observing an uptick in defaults, missed interest payments, and bank compliance issues. This evolving risk picture could be the first signs of more to come.

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On February 4, 2019, S&P Global Ratings affirmed JW Aluminum’s credit rating while it was noted that any setbacks in the company’s expansion could put pressure on its credit metrics and liquidity. Vallourec also reported better than expected results, which caused its bonds to trade higher. Lastly, Moody’s Refinancing Indicator hit a five-year low and small business

ProfitGuard  —December 2018

Credit conditions in the metals sector remain stable in general. Economic conditions are mostly positive in North America with continued GDP growth and favorable, albeit slowing, end markets for most metal suppliers. However, there are a mix of factors that are more likely to pressure economic conditions