With consumer demand plummeting because of the COVID-19 pandemic, highly leveraged automotive supplier Shiloh Industries, Inc. has filed for Chapter 11 restructuring.
The Ohio-based company makes components for vehicles specializing in parts and materials that reduce weight and noise. Its customers include Bayerische Motoren Werke AG (BMW), Daimler AG (Chrysler), Ford Motor Co. and General Motors Co.
Shiloh Industries' FRISK® score sank to a "1" in the summer of 2020:
A FRISK® score of "1" indicates a 10-to-50x greater probability of bankruptcy than the average publicly-traded company. We advise all of our clients to monitor any corporation in their portfolio rated with a score between "5" and "1" with extra scrutiny.
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