Logwin AG Dec 09
Standard & Poors, December 2009
Abstract
Leading niche sector positions for contract logistics in the German market. Reasonable diversity within the customer base. Ability to generate free cash flow in a difficult trading environment. Regional, narrow focus concentrated on three main Western European countries. Highly fragmented and competitive markets. Exposure to cyclical auto, fashion, and consumer industries. High financial leverage. The ratings on Logwin AG reflect the group's mid-size position in the highly fragmented, cyclical, and competitive logistics market; the regional and relatively limited scope of its operations; modest profit margins; and highly leveraged financial profile. These constraints are partially mitigated by what Standard & Poor's Ratings Services views as the group's solid niche market positions and limited but adequate liquidity for the rating level. Logwin...
Companies mentioned in this report are: Logwin AG
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
Logwin AG
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
