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Summary: Thiel Logistik AG Dec 06

  • ID: 1807013
  • December 2006
  • Standard & Poors

The ratings on Luxembourg-based logistics services provider Thiel Logistik AG reflect the group's midsize position in the highly fragmented, cyclical, and competitive logistics market; the regional and relatively modest scope of its operations; modest margins; and high financial leverage. The ratings benefit from Thiel's good positions in certain specialist markets, such as German fashion, media, and furniture. Thiel has annual revenues of about -1.9 billion and some good niche market positions. The group faces competition, however, from a number of larger players in the European logistics sector, including Deutsche Post AG (A/Negative/A-1), TNT N.V. (A-/Negative/A-2), Stinnes (not rated), and Kuehne & Nagel (not rated). There is a risk that larger competitors could put pressure on midsize players such as Thiel...

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 READ MORE >

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Logwin AG

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