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Hornbach-Baumarkt-AG

  • Published: January 2010
  • Standard & Poors

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

Abstract
Strong operating performance despite competitive German do-it-yourself (DIY) market. Leading German operator of large-format superstores. More-than-adequate liquidity profile. Aggressive financial risk profile due to debt-financed expansion in previous years. General seasonality and cyclicality of the DIY industry. The ratings on Germany-based home-improvement retailer Hornbach-Baumarkt-AG (Baumarkt) reflect Standard & Poor's Ratings Services' view of the company's aggressive financial risk profile due to debt-financed expansion program. The ratings also reflect our view READ MORE >

Hornbach-Baumarkt-AG,Hornbach Holding AG

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