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BULLETIN: Delphi Automotive Systems Reports Outlook and Ongoing Restructuring Program for 2002
Standard & Poors, Dec 2001
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 Delphi Automotive Systems Corp.'s (BBB/Stable/--) several announcements regarding its outlook for 2002 and its ongoing actions to position the company for a period of softening industry demand have no effect on Delphi's ratings and outlook. While the company's financial flexibility will be reduced somewhat in the near term, over the longer term, the restructuring actions should lead to improved operating results and cash generating potential. In its announcement, Delphi stated that it expects 2002 revenues to total $25.5 billion and net income to be about $275 million (excluding restructuring charges). This compares with a sales outlook of $26.1 billion and a forecasted net income level of $220 million - $225 million for 2001 (excluding...
Companies mentioned in this report are: Delphi Automotive LLP
Action: S&P Event
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