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Acuity Brands Inc. Jun 09
Standard & Poors, June 2009
Abstract
Brand-name products, strong distribution, and solid barriers to entry; Sizable portion of sales coming from the more stable retrofit and replacement markets; Low risk of product obsolescence or substitution; and Limited capital intensity. Dependence on the cyclical lighting segment; Exposure to pricing pressures and raw-material cost fluctuations; and Lack of geographic diversity. The ratings on Atlanta, Ga.-based Acuity Brands Inc. reflect the company's satisfactory business risk profile, with a leading market position in lighting fixtures. Acuity also has an intermediate financial risk profile. With about $2 billion in sales, Acuity designs, produces, and distributes indoor and outdoor lighting fixtures and related products for commercial and institutional, industrial, infrastructure, and residential applications. The company benefits from brand-name products, a diverse customer...
Companies mentioned in this report are: Acuity Brands Inc.
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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