Dixie Group's 'B1' corporate family rating affirmed - Moody's |
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Published
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Wed, 21 Nov 2007 06:27
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MUMBAI (Thomson Financial) - Moody's Investors Service said it has affirmed The Dixie Group Inc's 'B1' corporate family rating with a stable outlook reflecting continued expectation of adequate coverage of interest expense and moderate financial leverage, which could enable the company to weather adverse market conditions associated with the slowdown in residential construction.Moody's said the ratings also reflect solid top line growth with respect to the core carpet business in prior periods relative to other industry players.The ratings are further supported by the Tennessee-based carpet maker's relatively low customer concentration, focus on the high-end of the market and diversified channel mix.However, Moody's said the ratings are constrained by highly competitive nature of the carpet manufacturing industry, relatively small size of Dixie compared to larger peers, and significant cyclicality that depends on residential and commercial construction among other factors.TFN.newsdesk@thomson.comndi/pmiCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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