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Amid A Consumer Goods Boom, Can Russia's Local Players Fend Off The Multinationals?
Standard & Poors
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.
Abstract
Russian consumers have clearly learned from their Western counterparts a basic lesson in how to improve the quality of life: buy more goods. The beneficiaries have proven to be not only international consumer-goods giants but also a number of local Russian companies. But even as favorable economic conditions create fertile ground for the domestic players to flourish, investors are asking if local companies will be able to keep thriving in this market. The answer will be crucial for the credit quality of the Russian consumer-goods companies. Standard & Poor's Ratings Services believes the outcome will depend on different factors coming into play at different times, depending on whether we look at the short term, medium term, or long term. Taking...
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