Westinghouse Air Brake Technologies Corp.
Standard & Poors, May 2011
Abstract
Strong franchise, reflected in leading market shares; and Strong aftermarket sales. Exposure to volatility in the freight rail industry; and A financial policy characterized by a debt-financed acquisition growth strategy. The ratings on Wilmerding, Pa.-based Westinghouse Air Brake Technologies Corp. (Wabtec) reflect the company's good credit measures, including funds from operations (FFO) to total adjusted debt approaching 40%, along with our continued expectation that Wabtec's freight rail businesses will improve in 2011 from low activity levels and that performance at the company's transit rail business will remain stable. Overall, the company's operating performance should continue to benefit from increasing freight rail traffic volumes, which has driven growth in that market. The ratings on Wabtec also reflect the company's significant financial...
Companies mentioned in this report are: Westinghouse Air Brake Technologies Corp.
Action: Review
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Research Type: Full Analysis
Westinghouse Air Brake Technologies Corp.
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