MRO Magazine

Ferro Announces Raised Corporate Credit Ratings by Standard & Poor’s


August 4, 2015
By Business Wire News

CLEVELAND

Ferro Corporation (NYSE: FOE, the “Company”) today announced that on July 30, 2015, Standard & Poor’s (“S&P”) raised its corporate credit rating on both the Company and its issue-level debt to ‘BB-‘ from ‘B+’ and maintained the outlook as “stable.”

S&P based the upgrade on the Company’s generation of stronger EBITDA margins as a result of acquiring higher EBITDA-generating companies, exiting more-cyclical businesses, and achieving cost savings through restructuring activities. As a result, S&P stated it expected earnings to become more stable and future performance to be forecasted with higher conviction.

About Ferro Corporation

Ferro Corporation (http://www.ferro.com) is a leading global supplier of technology-based performance materials, including glass-based coatings, pigments and colors, and polishing materials. Ferro products are sold into the building and construction, automotive, appliances, electronics, household furnishings, and industrial products markets. Headquartered in Mayfield Heights, Ohio, the Company has approximately 4,710 employees globally and reported 2014 sales of $1.1 billion.

Ferro Corporation
Investor Contact:
John Bingle, 216-875-5411
Treasurer and Director of Investor Relations
john.bingle@ferro.com
or
Media Contact:
Mary Abood, 216-875-5401
Director, Corporate Communications
mary.abood@ferro.com