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Barry Callebaut AG Oct 06
Standard & Poors, Oct 2006
Abstract
Critical mass and strong purchasing power from the group's position as the only global chocolate products supplier to the food industry Geographic 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 Exposure to commodity price and foreign-exchange risks Dependence on sourcing cocoa from countries that are sometimes politically unstable Limited presence in the retail business of branded products The rating on Switzerland-based Barry Callebaut AG reflects its aggressive financial profile, offset to some extent by its position as the world's largest and sole independent global supplier...
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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