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Friday, February 19, 2016

Recent Events Impacting Credit Risk

January has been a busy month for metals related news. Already this month, we have a Canadian steelmaker receiving court approval to begin the auction process for a second time, an idling at a SBQ producer, and an aluminum company announcing that further production cuts could be on their way. This does not even include the four new bankruptcies posted on the ProfitGuard website.

ProfitGuard Payment Barometer

Many metals market participants are stating that these are the worst industry conditions they have seen since the 2008 financial crisis. In such an environment, late payments should not be taken lightly. Disruption of your company’s cash flow could cause unnecessary and unwanted operational pains.

Automotive Outlook

The automotive industry has proven to be a bright spot amidst a metals industry that continues to face headwinds as companies try to navigate through an extremely volatile environment. Still, the U.S. auto industry managed to set an all-time sales record in 2015 after taking a big hit from the Recession just six years ago.

The Importance of Debt Service Ability

One of many key components of evaluating a company’s credit worthiness is examining its liquidity position and ability to service its debts. This is increasingly important in the current market environment of low metal prices and compressed margins. While a customer may currently be paying timely, decreasing debt service ability might indicate financial or liquidity issues to come.

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March 2017:

Credit Risk Outlook for Q2... Read more.