Issuer Ranking: Global Auto Suppliers, Strongest To Weakest Oct 08

  • ID: 1785729
  • October 2008
  • Region: Global
  • Standard & Poors
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  • Accuride Corp.
  • Bridgestone Corp.
  • Europcar Groupe S.A.
  • Johnson Controls Inc.
  • Meritor Inc.
  • Sonic Automotive Inc.
  • MORE

U.S. light vehicle industry sales remain strikingly weak for the year to September, virtually ensuring that third- and fourth-quarter results for the rated auto supplier universe will contain unpleasant news. While the maturity profile for most rated auto suppliers is not onerous because of a wave of refinancing prior to the credit crunch, liquidity is increasingly crucial for many in the sector. Standard & Poor's Ratings Services believes 2008 sales will reach a 15-year low of 14 million units--and perhaps lower--which implies that the pace of sales in the second half will be well below that level, since the first quarter was relatively strong. The decline in sales this year alone will be greater than the cumulative decline over the...

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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- Cooper Tire & Rubber Co.
- Dana Holding Corp.
- The Goodyear Tire & Rubber Co.
- Robert Bosch GmbH
- Denso Corp.
- Harman International Industries Inc.
- Magna International Inc.
- Sonic Automotive Inc.
- Stoneridge Inc.
- American Axle & Manufacturing Holdings Inc.
- GKN Holdings PLC
- Continental AG
- Autoliv Inc.
- Meritor Inc.
- Knorr-Bremse AG
- Compagnie Generale des Etablissements Michelin S.C.A.
- AutoNation Inc.
- TI Automotive Ltd.
- Duerr AG
- Europcar Groupe S.A.
- Delance Ltd.
- LKQ Corp.
- Federal-Mogul Corp.
- Johnson Controls Inc.
- Mark IV Industries Inc.
- Metaldyne LLC
- Exide Technologies
- Lear Corp.
- Hayes Lemmerz International Inc.
- BorgWarner Inc.
- Penske Automotive Group Inc.
- Accuride Corp.
- FleetPride Corp.
- Group 1 Automotive Inc.
- Standard Motor Products Inc.
- Bridgestone Corp.
- Tenneco Inc.
- Rheinmetall AG
- Visteon Corp.
- Shiloh Industries Inc.
- MetoKote Corp.
- Asbury Automotive Group Inc.
- Hilite International Inc.
- Toyota Industries Corp.
- TRW Automotive Inc.
- United Components Inc.
- Tomkins Finance Ltd.
- Aisin Seiki Co. Ltd.
- Lazy Days' R.V. Center Inc.
- A.T.U. Auto-Teile-Unger Holding GmbH
- Affinia Group Inc.
- Cooper-Standard Automotive Inc.
- American Tire Distributors Inc.
- Piaggio & C. SpA
- Commercial Vehicle Group Inc.
- KAR Auction Services Inc.
- Allison Transmission Inc.

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