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

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

  • ID: 1785729
  • October 2008
  • Region: Global
  • Standard & Poors

FEATURED COMPANIES

  • Accuride Corp.
  • Bridgestone Corp.
  • Europcar Groupe S.A.
  • Johnson Controls Inc.
  • Meritor Inc.
  • Sonic Automotive Inc.
  • MORE

Abstract
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.

- Cooper Tire & Rubber Co.
- Dana Holding Corp.
- Federal-Mogul Corp.
- The Goodyear Tire & Rubber Co.
- Johnson Controls Inc.
- Mark IV Industries Inc.
- Robert Bosch GmbH
- Metaldyne LLC
- Exide Technologies
- Denso Corp.
- Lear Corp.
- Harman International Industries Inc.
- Hayes Lemmerz International Inc.
- Magna International Inc.
- BorgWarner Inc.
- Penske Automotive Group Inc.
- Accuride Corp.
- FleetPride Corp.
- Sonic Automotive Inc.
- Group 1 Automotive Inc.
- Stoneridge Inc.
- American Axle & Manufacturing Holdings Inc.
- Standard Motor Products Inc.
- GKN Holdings PLC
- Bridgestone Corp.
- Tenneco Inc.
- Rheinmetall AG
- Continental AG
- Autoliv Inc.
- Visteon Corp.
- Meritor Inc.
- Shiloh Industries Inc.
- Knorr-Bremse AG
- Compagnie Generale des Etablissements Michelin S.C.A.
- AutoNation 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.
- TI Automotive Ltd.
- Lazy Days' R.V. Center Inc.
- Duerr AG
- 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.
- Europcar Groupe S.A.
- KAR Auction Services Inc.
- Delance Ltd.
- Allison Transmission Inc.
- LKQ Corp.

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