- Language: English
- Published: June 2012
Summary: Refresco Group B.V. Jun 11
- ID: 1820710
- June 2011
- Standard & Poors
The ratings on Dutch beverage producer Refresco Group B.V. primarily reflect Standard & Poor's Ratings Services' view of the company's aggressive financial risk profile and debt leverage. They also incorporate our opinion of Refresco's limited pricing power, in particular given its high exposure to raw material price fluctuations. These factors are partially mitigated by Refresco's large scale of operations and its competitive cost structure supporting its No. 1 position in the European private-label soft drinks market; the favorable growth prospects for Refresco's product categories; and its positive free cash flow generation capacity. Refresco successfully maintained positive like-for-like volume growth in recent years, but selling prices came under pressure in 2009 and 2010. We believe that Refresco should be able to...
Companies mentioned in this report are: Refresco Group B.V.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Refresco Group B.V.