Research Update: Deutsche Post Ratings Affirmed At 'BBB+/A-2'; Then Withdrawn At Company's Request Nov 12
- Language: English
- Published: November 2012
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: Full Analysis
Competitive platform in mail, express, logistics, and financial services; Mail division with overall stable and significant cash flows in the foreseeable future; Mail performance and cash flows that provide a shield for the group, giving it a solid basis; Global network with leading market positions in express; and Global No. 1 integrated logistics operator. Still weak profitability in the recession-sensitive express divisions; Future acquisition risk in mail, owing to expected acquisition activity within Europe; and High pension costs and unfunded pension liabilities. The ratings on Germany-based postal service provider Deutsche Post AG (DP) and related entities reflect its strong business risk profile, supported in particular by its cash-generative mail business and strong ongoing free cash flow generation. The ratings are...
Companies mentioned in this report are: Deutsche Post AG,Deutsche Postbank AG
Deutsche Post AG,Deutsche Postbank AG