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Summary: HMS Hydraulic Machines & Systems Group PLC Jun 11 Product Image

Summary: HMS Hydraulic Machines & Systems Group PLC Jun 11

  • ID: 1826770
  • June 2011
  • Standard & Poors

Abstract
The ratings on Russia-based pumps and oil and gas equipment manufacturer HMS Hydraulic Machines & Systems Group PLC (HMS) reflects Standard & Poor's Ratings Services' assessments of HMS' weak business risk profile and significant financial risk profile. The ratings are primarily constrained by HMS' narrow geographical diversification and the risk inherent in doing business in Russia, where the group derives around 90% of total revenues. An additional rating weakness is the execution risk HMS faces on the delivery of contracts. The group's lump-sum contracts leave it exposed to potential unexpected cost overruns. This risk is reinforced by HMS' concentration on some large contracts, such as the ESPO contract with OAO AK Transneft, which represented close to half of HMS' order...

Companies mentioned in this report are: HMS Hydraulic Machines & Systems Group PLC
Action: Review

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HMS Hydraulic Machines & Systems Group PLC

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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