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Airbus Flies at Full Throttle Oct 00
Standard & Poors, Oct 2000
Abstract
In the wake of Airbus' milestone year 2000, the European commercial aerospace industry is benefiting from strong demand and record backlogs. Air traffic is likely to increase by 4.9% a year in the next 20 years, and more than 15,000 new aircraft are poised to be delivered during this period. The sustained demand should help maintain strong credit measures--except that small subcontractors might suffer temporary setbacks in orders. Such was the case for Doncasters in the past year, given its exposure to Boeing; Standard & Poor's changed its outlook on Doncasters to negative in January 2000. All other European aerospace ratings are unchanged, except Aerospace Matra's (currently on CreditWatch with positive implications, following its merger with DaimlerChrysler Aerospace (DASA) to...
Companies mentioned in this report are: Boeing Co.,International Lease Finance Corp.,Sweden (Kingdom of),France (Republic of) (Unsolicited Ratings),United Kingdom (Unsolicited Ratings),Germany (Federal Republic of) (Unsolicited Ratings),BAE Systems PLC,European Aeronautic Defence and Space Co. N.V.,Federative Republic of Brazil,Thales S.A.,Qantas Airways Ltd.,British Airways PLC,Fairchild Semiconductor International Inc.,City - State of Hamburg,Rolls-Royce PLC,Dunlop Standard Aerospace Holdings PLC,SAAB AB,Singapore Airlines Ltd.,China Airlines Ltd.
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.
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