Issuer Ranking: European Building Materials Companies, Strongest To Weakest May 11
Standard & Poors, May 2011
Abstract
Standard & Poor's Ratings Services believes that the two-tier recovery in the building materials industry that we observed in 2010 will continue through 2011. For issuers with exposure to light-side products, including electrical equipment and tool providers, we think the pace of recovery could accelerate further. By contrast, we believe that issuers exposed to the heavy materials end markets will likely experience ongoing difficult industry conditions. Overall, recovery across this sector is, in our view, likely to remain lumpy and fragile in 2011. (For further information, listen to the related podcast titled, "Global Building Materials Companies Brace For A Bumpy 2011," dated March 29, 2011, and see "Top 10 Investor Questions: Global Building Materials And Products Companies," published March 29,...
Companies mentioned in this report are:
- Compagnie de Saint-Gobain
- Lafarge S.A.
- Ciments Francais S.A.
- Italcementi SpA
- Holcim Ltd.
- Wuerth GmbH & Co. KG Adolf
- Geberit AG
- Cimpor Cimentos de Portugal, S.G.P.S. S.A.
- HeidelbergCement AG
- Dyckerhoff AG
- CRH PLC
- Grohe Holding GmbH
- Legrand S.A.
- Wienerberger AG
- Pipe Holdings PLC
- Titan Cement Co. S.A.
- Rexel S.A.
- Buzzi Unicem SpA
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Compagnie de Saint-Gobain
- Lafarge S.A.
- Ciments Francais S.A.
- Italcementi SpA
- Holcim Ltd.
- Wuerth GmbH & Co. KG Adolf
- Geberit AG
- Cimpor Cimentos de Portugal, S.G.P.S. S.A.
- HeidelbergCement AG
- Dyckerhoff AG
- CRH PLC
- Grohe Holding GmbH
- Legrand S.A.
- Wienerberger AG
- Pipe Holdings PLC
- Titan Cement Co. S.A.
- Rexel S.A.
- Buzzi Unicem SpA
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