Summary: Hill-Rom Holdings Inc.
Standard & Poors, April 2011
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Abstract
The rating on Batesville, Ind.-based Hill-Rom Holdings Inc. reflects the company's fair business risk profile and modest financial risk profile. We believe the company's fiscal 2011 revenues could grow by mid-single digits and could be further boosted by moderate-sized acquisitions. The rating also reflects the company's well-established but narrow business position, highlighted by its market-leading position in its hospital beds and surfaces business, strong liquidity, and modest financial risk profile. Negative factors include the company's reliance on its beds and surfaces operations, its exposure to U.S. hospitals' improved but still uncertain capital budgets, and the possibility that Hill-Rom's acquisition strategy could become more aggressive following the expiration of the company's distribution agreement. As a result of the spin-off of its...
Companies mentioned in this report are: Hill-Rom Holdings Inc.,Hillenbrand Inc.
Action: Review
Hill-Rom Holdings Inc.,Hillenbrand Inc.
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