Dun & Bradstreet Corp. (The) Apr 09
Standard & Poors, April 2009
Abstract
Leading market position; Strong free cash flow generation; A large portion of revenues are somewhat countercyclical; Good revenue visibility given the percentage of sales that are from subscription-based customers (although subscriptions are generally for one year); and High barriers to entry. A sizable common share buyback program and dividend reduces free cash flow; and Narrow product set. The ratings on The Dun & Bradstreet Corp. (D&B) reflect the Short Hills, N.J.-based information products company's leading market position with high barriers to entry, strong free cash flow generation, and good revenue visibility and stability. A relatively narrow product set and sizable common share buyback program and dividend somewhat temper these factors, resulting in an intermediate financial risk profile. D&B provides information...
Companies mentioned in this report are: Dun & Bradstreet Corp. (The)
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
Dun & Bradstreet Corp. (The)
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