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BULLETIN: ThyssenKrupp AG Announces Weak Half-Year Results
Standard & Poors, May 2002
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
Standard & Poor's said today that poorer-than-expected half-year results announced by ThyssenKrupp AG (BBB/Stable/A-2) do not affect the ratings or outlook on the company. Standard & Poor's expectations are that ThyssenKrupp's profitability and financial ratios should reach the lowest level in the first two quarters of financial 2002 (ending in September 2002). Furthermore, ThyssenKrupp's financial performance should improve in the coming quarters, with some signs of stabilization and turnaround in the steel segment, where prices have started to increase. The funds from operations-to-debt ratio is therefore likely to be somewhat below 30% for financial 2002, but is expected to remain at about 30% on average over the cycle, which should be sufficient to cover capital expenditures. Debt reductions have been...
Companies mentioned in this report are: ThyssenKrupp AG
Action: S&P Event
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