Jason Holdings Inc., a Milwaukee-based industrial manufacturing company, received a negative outlook from S&P Global Ratings after finalizing its Chapter 11 bankruptcy.
Previously named Jason Inc., the company re-entered the marketplace as Jason Holdings Inc. The company voluntarily filed for bankruptcy in June.
The company controls two entities. Osborn Industrial Finishing specializes in metal preparation, polishing and finishing. Milsco Engineered Seating Systems manufactures seats for motorcycles, lawn mowers, and off-highway equipment.
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The company's leverage is expected to remain high after bankruptcy, above 15x through 2020, due to weak economic conditions stemming from the COVID-19 pandemic, accor...