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Issuer Ranking: European Transportation Companies, Strongest To Weakest Jan 09 Product Image

Issuer Ranking: European Transportation Companies, Strongest To Weakest Jan 09

  • ID: 1806403
  • January 2009
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • British Airways PLC
  • CMA CGM S.A.
  • Deutsche Post AG
  • Logwin AG
  • PostNL N.V.
  • Stagecoach Group PLC
  • MORE

Abstract
Europe's rated airline, shipping, and logistics companies are navigating an extremely difficult trading environment as the global economic slowdown takes hold. Not surprisingly, the overriding effect is a sharp downturn in demand as consumer confidence ebbs away, exacerbated by the ongoing turmoil in financial markets. For shipping companies in particular, the operating environment has deteriorated sharply, reflecting much tighter financing conditions, including a lack of availability of trade finance. This, in turn, has significantly pressured ratings in the sector as reduced shipping activity caused freight rates to collapse. In the dry bulk shipping segment, for example, freight rates fell over 90% from their 2008 peak to a six-year low in November 2008, triggering several ratings actions. Airlines, meanwhile, remain pressured...

Companies mentioned in this report are:
- Deutsche Lufthansa AG
- British Airways PLC
- Stena AB
- PostNL N.V.
- Stagecoach Group PLC
- Nobina AB
- FirstGroup PLC
- Deutsche Post AG
- CMA CGM S.A.
- Ship Finance International Ltd.
- Logwin AG
- CEVA Group PLC
- Navios Maritime Holdings Inc.
- SAS READ MORE >

- Deutsche Lufthansa AG
- British Airways PLC
- Stena AB
- PostNL N.V.
- Stagecoach Group PLC
- Nobina AB
- FirstGroup PLC
- Deutsche Post AG
- CMA CGM S.A.
- Ship Finance International Ltd.
- Logwin AG
- CEVA Group PLC
- Navios Maritime Holdings Inc.
- SAS AB

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