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Issuer Ranking: Global Auto- And Truck-Related Suppliers And Auto Retailers, Strongest To Weakest May 11
Standard & Poors, May 2011
Abstract
As 2011 enters the second quarter, auto demand globally remains mixed, but is still generally favorable for rated auto suppliers, in Standard & Poor's Ratings Services' view. In North America, sales remain on track to be higher than 2010, but Japanese sales, already facing a decline, now may fall even more sharply following the economic impact from the tragic March earthquake. European markets could be weaker this year; for the first quarter, EU registrations were down 2.3%. Sales in key developing markets such as China and India seem likely to continue rising, although perhaps at a slower rate. We believe the numerous upgrades we made in 2010 remain appropriate and are supported by industry fundamentals that are, at least for...
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.
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