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Ace Hardware Corp. May 11
Standard & Poors, May 2011
Abstract
Recognized brand name and good market position in the convenience hardware market; and Good geographic diversity of retail locations in the U.S. Participates in the highly fragmented and intensely competitive hardware store market; Moderate sensitivity to residential housing market, although the company emphasizes 'preservation' as compared to 'renovation'; and Moderately leveraged capital structure with fair credit protection measures. The ratings on privately owned Oak Brook, Ill.-based Ace Hardware Corp. reflect Standard & Poor's Ratings Services' expectations for modest top-line growth over the next 12 months. We view the company's business risk profile as weak because of Ace's participation as a member-owned cooperative in the very competitive and fragmented convenience hardware store industry, and its sensitivity to the residential housing market....
Companies mentioned in this report are: Ace Hardware Corp.
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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