AZZ Inc.: Update to credit considerations
Our credit view of this issuer reflects its strong market position and moderate financial leverage, constrained by its reliance on cyclical end markets.AZZ is a provider of galvanizing and metal coating services, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution, refining and industrial markets. The company operates in two segments; Energy, which is engaged in delivering transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to infrastructure in the energy markets; and Metal Coatings, which is a provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry.
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