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Penn Engineering & Manufacturing Corp.: Update to credit analysis

Our credit view of this issuer reflects its high EBITDA margins and good liquidity, offset by its modest revenue scale and its special dividend risk from private ownership.

Moody's announces completion of a periodic review of ratings of Penn E...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Penn Engineering& Manufacturing Corp.. Global Credit Research- 21 May 2021. New York, May 21, 2021-- Moody's Investors Service has completed a periodic review of the ratings of Penn Engineering& Manufacturing Corp. and other ratings that are associated with the same analytical unit.

Penn Engineering & Manufacturing Corp.: Update to credit analysis foll...

Our credit view of this issuer reflects its modest revenue base and cyclical end markets balanced against high EBITDA margins and strong free cash flow.

Moody's affirms Penn Engineering's B1 CFR; outlook changed to stable

Rating Action: Moody's affirms Penn Engineering's B1 CFR; outlook changed to stable. Global Credit Research- 18 May 2021. New York, May 18, 2021-- Moody's Investors Service, today affirmed the B1 Corporate Family Rating of Penn Engineering& Manufacturing Corp. as well as the B1 rating on the senior secured first lien bank debt.

Moody's announces completion of a periodic review of ratings of Penn E...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Penn Engineering& Manufacturing Corp.. Global Credit Research- 21 Aug 2020. New York, August 21, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Penn Engineering& Manufacturing Corp. and other ratings that are associated with the same analytical unit.

Penn Engineering & Manufacturing Corp.: Update to credit analysis foll...

Softness in automotive end market compounded by negative effect of the coronavirus on revenue and earnings partially counterbalanced by healthy free cash flow generation.

Moody's changes Penn Engineering ratings outlook to negative, affirms ...

Rating Action: Moody's changes Penn Engineering ratings outlook to negative, affirms B1 CFR. Global Credit Research- 19 May 2020. Approximately $730 million of outstanding rated debt affected.

Moody's announces completion of a periodic review of ratings of Penn E...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Penn Engineering& Manufacturing Corp.. Global Credit Research- 28 Oct 2019. New York, October 28, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Penn Engineering& Manufacturing Corp. and other ratings that are associated with the same analytical unit.

Penn Engineering & Manufacturing Corp.: Update to credit analysis

Detailed analysis of key credit considerations including continued strong cash flow generation counterbalanced by softness in auto market and uncertain macro global macro environment .

Penn Engineering & Manufacturing Corp.: Update to Key Credit Factors F...

Detailed analysis of key credit considerations including higher financial leverage from add-on term loan counterbalanced by including high EBITDA margins and free cash flow generation.

Moody's affirms Penn Engineering & Manufacturing Corp.'s B1 CFR follow...

Moody's Investors Service ("Moody's") affirmed Penn Engineering & Manufacturing Corp. ("Penn")'s B1 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating. Concurrently, Moody's affirmed the company's B1 first lien bank debt ratings including its $125 milli...

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