Kennametal Inc.: Update to credit analysis
Our credit view of this issuer reflects its geographic and end market diversity, constrained by its cyclical end markets.Kennametal engages in the development and application of tungsten carbides, ceramics, materials and solutions used in metal cutting and extreme wear applications. The company's standard and custom product offering spans metalworking and wear applications including turning, milling, hole making, tooling systems and services, as well as other wear components and metallurgical powders. End users of the company's metalworking products include manufacturers engaged in a range of industries including: the manufacturers of transportation vehicles and components, machine tools and light and heavy machinery; airframe and aerospace components; and energy-related components for the oil and gas industry.
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