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Ferro Corporation Message Board

  • rexvanderburge rexvanderburge Dec 9, 2009 4:04 PM Flag

    S&P Upgrades

    Standard & Poor's Ratings Services raised its corporate credit rating on Ferro Corp. (FOE) out of highly speculative territory, reflecting improved liquidity and operating earnings.

    The producer of coatings, pigments and plastics raised $230 million last month from a highly dilutive equity offering, with proceeds earmarked for debt restructuring and repayment as well as costs related to Ferro's downsizing. The company has cutting its work force, starting another round of belt-tightening just last month.

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12.47-0.100(-0.80%)Jul 22 4:02 PMEDT