|
|
 |
|
Viewing report
|
|
|
|
Adverse Market Conditions Prevail for European Commodity Chemicals Nov 01
Standard & Poors, Nov 2001
Abstract
The year 2001 has been difficult for commodity chemicals players worldwide. Demand started to slow in the second half of 2000, when the softening of the U.S. economy prompted end users to limit purchases. A combination of several unfavorable events then worsened the situation: volatile raw-material costs, slowing economies, excess capacity, and a destocking trend. In addition, increased competition from companies based in the Middle East created the most severe market downturn since 1993. European petrochemicals producers are being affected in different ways, depending on whether or not they are integrated. Midsize producers, many of which are not backward integrated with raw materials, have been struggling under the constraints of faltering demand and high feedstock costs. The large producers have...
Companies mentioned in this report are: BP PLC,Imperial Chemical Industries Ltd.,Akzo Nobel N.V.,Solvay S.A.,Koninklijke DSM N.V.,Celanese AG ,Rhodia,Dynea International Oy,Ineos Group Holdings PLC
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.
|
|
|
|
