• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Industry Report Card: European Business Services Sector, Continued Satisfactory Performance During Second-Half 2008, Initial Signs Of Softening For 2009 Dec 08 Product Image

Industry Report Card: European Business Services Sector, Continued Satisfactory Performance During Second-Half 2008, Initial Signs Of Softening For 2009 Dec 08

  • Published: December 2008
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • Adecco S.A.
  • Castle HoldCo 4
  • Compass Group PLC
  • Experian Finance PLC
  • ISS A/S
  • Rentokil Initial PLC
  • MORE

Abstract
Credit quality in the European business services industry remained relatively stable during the second half of 2008, with most segments benefiting from mid-single-digit organic growth rates with stable operating margins. With the exception of U.K. real estate services provider Castle HoldCo 4 and U.K.-based specialized services provider Rentokil Initial PLC, there have been no recent material changes in the credit quality of rated companies in the industry. In 2009 we expect a slowdown in growth, continued cost-cutting efforts, and an increasing focus on financial flexibility among rated entities in the sector. The extent of these changes and their impact will vary relative to each service segment's level of resilience to economic downturns; however, we do not expect material changes in...

Companies mentioned in this report are:
- Sodexo
- Adecco S.A.
- Experian Finance PLC
- Securitas AB
- Compass Group PLC
- gategroup Financial Services S.a.r.l
- Rentokil Initial PLC
- ISS A/S
- Castle HoldCo 4

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance READ MORE >

- Sodexo
- Adecco S.A.
- Experian Finance PLC
- Securitas AB
- Compass Group PLC
- gategroup Financial Services S.a.r.l
- Rentokil Initial PLC
- ISS A/S
- Castle HoldCo 4

Note: Product cover images may vary from those shown

RELATED PRODUCTS