- Published: May 2012
Summary: EnerCare Inc. May 11
- Published: May 2011
- Standard & Poors
The ratings on EnerCare Inc. reflect Standard & Poor's Ratings Services' view of the company's strong business risk profile, characterized by the entrenched position of its portfolio of rental water heaters, as well as its high debt leverage. Notwithstanding recent competitive pressure, the portfolio generates steady cash flows stemming from its long-standing franchise as Ontario's largest renter of water heaters. That said, increased competition has eroded the number of rental water heaters in the portfolio in recent years, thereby contributing to weaker cash flow. EnerCare's portfolio of rented water heaters benefits from low operating risk and low maintenance intensity, which yield a quick payback; the underlying assets are technologically simple and have an expected service life of about 15 years,...
Companies mentioned in this report are: EnerCare Inc.
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