Industry Report Card: Third-Quarter Results Confirm An Improving Trend For European Transportation Companies In 2010 Dec 10
Standard & Poors, December 2010
Abstract
Improving economic conditions in most countries, fiscal stimulus packages, restocking exercises, and improving corporate profits confirm a continued improving trend for rated passenger and freight transportation firms in Europe in 2010. The growth in demand year on year has been strong in many segments, and this, coupled with the ongoing need for cost control, has led to rising profitability for the region's transportation companies during the year. Looking ahead to 2011, Standard and Poor's Ratings Services anticipates the current high demand growth to slow due to the still-soft European and global economic outlook and as prior-year comparisons become stronger, restocking exercises complete, and the benefits from fiscal stimulus packages fall away. Our most recent economic forecast assumes eurozone real GDP...
Companies mentioned in this report are:
- Deutsche Lufthansa AG
- British Airways PLC
- PostNL N.V.
- Stagecoach Group PLC
- Nobina AB
- FirstGroup PLC
- Deutsche Post AG
- Ship Finance International Ltd.
- Logwin AG
- CEVA Group PLC
- Navios Maritime Holdings Inc.
- SAS AB
- Avincis Mission Critical Services Holdings, S.L.U.
- Hapag-Lloyd Holding AG
- Navios Maritime Acquisition Corp.
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Deutsche Lufthansa AG
- British Airways PLC
- PostNL N.V.
- Stagecoach Group PLC
- Nobina AB
- FirstGroup PLC
- Deutsche Post AG
- Ship Finance International Ltd.
- Logwin AG
- CEVA Group PLC
- Navios Maritime Holdings Inc.
- SAS AB
- Avincis Mission Critical Services Holdings, S.L.U.
- Hapag-Lloyd Holding AG
- Navios Maritime Acquisition Corp.
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