S&P Answers Frequently Asked Questions on Delphi Corp.
- ID: 1712656
- September 2004
- Standard & Poors
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Research type: News
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NEW YORK (Standard & Poor's) Sept. 23, 2004-Troy, Mich.-based automotive supplier Delphi Corp. (BBB-/Negative/A-3) is expected to feel pressure on its full-year $400 million-$500 million target for net income (before restructuring charges) as a result of reduced production schedules at its major customer, General Motors Corp. (BBB/Negative/A-2) and others, according to a report published today by Standard & Poor's Ratings Services. "While there is no direct linkage between Standard & Poor's ratings of the two companies, the ratings on Delphi incorporate the health and prospects of its largest customer as well as many other factors, including its own competitive position, earnings and cash flow generation potential, and balance sheet strength," said Standard & Poor's credit analyst Martin King. "Delphi's fortunes...
Companies mentioned in this report are: Delphi Automotive LLP
Action: General Comment