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Boart Longyear Limited
Standard & Poors, May 2011
Abstract
Leading position in the contract drilling services and equipment industry, and Flexible cost structure. High exposure to the gold industry, and Dependency on the commodity mining industry. The 'BB-' corporate credit rating on drilling services and drilling products manufacturer Boart Longyear Ltd. (BLY) reflects what Standard & Poor's Ratings Services considers to be the company's weak business risk profile, given the company's dependence on the commodity mining industry, including a high exposure to the gold industry. BLY's operating performance depends highly on the global minerals industry's exploration, development, and production expenditures, which are largely influenced by the price of gold, copper, and other base metals. In addition, financing availability for junior miners can affect spending in the exploration business. We...
Companies mentioned in this report are: Boart Longyear Limited
Action: Review
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: Full Analysis
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