New York, May 01, 2015 -- Moody's Investors Service today changed the outlook for Joy Global Inc. (Joy) to negative from stable, reflecting continued weakening of credit metrics in light of the challenges facing the commodities sector, particularly coal miners, responsible for almost 60% of the company's sales. The company's Debt/ EBITDA stood at 2.5x for the twelve months ended January 31, 2015, as compared to 1.5x at October 31, 2013. We expect further weakening in 2015, with leverage approaching but not exceeding 3x. Moody's affirmed the company's Baa2 senior unsecured rating.
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