Printer Friendly

TAMBRANDS $150 MIL. CP PROGRAM RATED 'F-1' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 30 ~PRNewswire~ -- Tambrands Inc.'s (NYSE: TMB) 3(a)3 commercial paper program is rated 'F-1' by Fitch. This is a newly established program and the first time that Fitch has rated Tambrands.
 The rating is based on the company's leading market position in a recession-resistant industry, strong worldwide brand franchise with "TAMPAX" brand tampons, its high degree of financial flexibility, and robust operating cash flows.
 Based on 1991 figures, Tambrands leads the U.S. tampon market with a 59 percent share and is the dominant market leader in other worldwide markets with high tampon usage such as Canada (61 percent), United Kingdom (61 percent), and New Zealand (44 percent). Furthermore, Tambrands' continuing effort to globally expand by introducing its products under the TAMPAX trademark in low tampon usage areas, as well as in developing countries, will allow strong revenue growth.
 Since its 1989 restructuring, Tambrands has refocused its business strategy on tampons and has successfully divested itself of other non- related businesses. An upgrade of manufacturing facilities in the United States and in Europe is underway and is expected to continue over the next four years. This should provide greater production efficiencies and result in operating margins above 20 percent. Although the company has decided to increase financial leverage to approximately 33 percent of total capitalization from its historical level of 3 percent or 4 percent, pretax interest coverage is expected to remain extremely strong.
 While Tambrands' continuing stock buyback program is of some concern, there is more than sufficient cash flow available for repurchase activity given the company's relatively moderate capital expenditures, working capital, and scheduled debt service requirements.
 Tambrands, Inc. headquartered in White Plains, NY, manufactures and markets feminine protection products on a worldwide basis primarily under the TAMPAX trademark.
 -0- 11~30~92
 ~CONTACT: Anne Marie May of Fitch, 212-908-0589~
 (TMB)


CO: Tambrands Inc. ST: New York IN: HOU SU: RTG

TM -- NY063 -- 2050 11~30~92 16:05 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 30, 1992
Words:327
Previous Article:MYM LIQUIDATING TRUST DECLARES DIVIDEND
Next Article:CHEMICAL BANKING $100 MILLION NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
WESCORP $150 MILLION CP PROGRAM RATED
CORPORATE RECEIVABLES CORP. 'F-1+' COMMERICAL PAPERS AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --
TRANSAMERICA FINANCE $150 MILLION NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
COMMERCIAL CREDIT $150 MILLION 6.7 PERCENT SENIOR NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE
TRANSAMERICA FINANCE $150 MIL. NOTES RATED 'A+' BY FITCH --FITCH FINANCIAL WIRE --
BANKERS TRUST $150 MILLION SUBORDINATED NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
TAMBRANDS $150 MIL. MEDIUM-TERM NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
Tambrands Medium-Term Note Rating Withdrawn by Fitch - Fitch Financial Wire -
Nebraska Public Power District $150 Million Commercial Paper Rated 'F1+' by Fitch IBCA - FITCH IBCA FINANCIAL WIRE -
Park Avenue Receivables Corp. CP Program Rated 'F1' By Fitch IBCA.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters