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Barry Callebaut AG May 05
Standard & Poors, May 2005
Abstract
Critical mass and strong purchasing power from the company's position as the only global chocolate-products supplier to the food industry. Geographical diversity. The favorable outsourcing trend in the food industry, which should provide more opportunities to increase sales to key customers. A client base of the world's largest food manufacturers and retailers, which have strong bargaining power, although this is mitigated by customer diversity. Trading challenges experienced by the consumer products division, particularly in Europe. Exposure to commodity-price and foreign-exchange risks. The rating reflects Switzerland-based Barry Callebaut AG's position as the world's largest and sole independent global supplier of cocoa and chocolate products to the food industry and its growing downstream expansion into finished products. These factors are offset to...
Companies mentioned in this report are: Barry Callebaut AG,Barry Callebaut Services N.V.
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
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