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Financial risk analysis is critical to the credit decision process. Credit professionals should understand themajor categories that encompass this type of risk to obtain a better view of the company’s overall health.Financial risk typically falls into three categories: profitability, capital structure, and cash flow.

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Over the past year, special purpose acquisition company (SPAC) initial public offerings (IPOs) have floodedthe U.S. financial market. Although SPACs have been around for decades, 2020 was a record-breaking yearand 2021 remains busy as investors and management teams try to mitigate the increased market volatility riskof traditional IPOs.

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In Recycling Today article, Victor Sandy, executive with scrap-focused credit advisory firm, says monitoring creditworthiness should be systematically managed.

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Form Technologies recently completed a Transaction Support Agreement by which the companyrecapitalized and extended debt maturities. Form Technologies is a manufacturer of small precisionengineered components and its subsidiaries include Dynacast and Signicast.

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More and more private equity firms are turning their attention to the plastics and packaging sector. 2019 sawan uptick in private equity interest and the trend continues as we enter 2021.

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2021 is forecasted to be a high risk year. Lingering effects of COVID-19 remain rampant in the economy, especially in the industrial sector, which is point to higher insolvency risk this year.

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We believe credit pressures will persist in 2021 but we also note the coronavirus vaccine roll out could helpboost the economic recovery in the United States and Canada. Additionally, S&P Global Ratings reportsthat borrowing conditions remain favorable for many companies.

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According to S&P Global Market Intelligence, a total of 574 companies have gone bankrupt this year as of November 15, still on track to surpass the figure from 2019. The top three sectors leading the bankruptcy filings are consumer discretionary, industrials, and energy.

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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.

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 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.

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

ProfitGuard —September 2018

Overall business conditions in the metals sector remain positive. Pricing has remained elevated in general for most metals and demand has been strong. Despite these solid conditions, credit risk remains in pockets.