Industry Economic And Ratings Outlook: U.S. Transportation Sector Ratings Are Improving, But A Slowing Economy Clouds The Outlook Oct 10
Standard & Poors, October 2010
Abstract
Standard & Poor's Ratings Services' base-case 2010 outlook for the U.S. transportation industry is stable, based on the following fundamentals: An ongoing, albeit slowing, economic recovery from the deep recession in the U.S., Europe, and Japan, as well as healthier economic growth in other regions; and Gradually increasing oil prices. The improving economy (both U.S. and global) has boosted demand for all transportation sectors, particularly in second-quarter 2010, but our expectation of slowing economic growth implies more moderate credit improvement in the future. The proportion of negative rating outlooks or CreditWatch reviews on U.S. transportation companies has fallen from more than 50% in mid-2009 to only half that now, with most outlooks now stable. The change reflects both the improved...
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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.
- AMR Corp.
- AMERCO
- CSX Corp.
- Con-way Inc.
- Delta Air Lines Inc.
- GATX Corp.
- International Lease Finance Corp.
- Kansas City Southern
- The Brink's Co.
- Ryder System Inc.
- Southwest Airlines Co.
- TTX Co.
- Union Pacific Corp.
- Union Tank Car Co.
- US Airways Group Inc.
- American Commercial Lines Inc.
- Alaska Air Group Inc.
- Norfolk Southern Corp.
- United Continental Holdings Inc.
- National Railroad Passenger Corp. (AMTRAK)
- Kirby Corp.
- Evergreen International Aviation Inc.
- J.B. Hunt Transport Services Inc.
- Enterprise Holdings Inc.
- Overseas Shipholding Group Inc.
- Alexander & Baldwin Inc.
- Burlington Northern Santa Fe LLC
- AirTran Holdings Inc.
- FedEx Corp.
- Quality Distribution Inc.
- RailAmerica Inc.
- United Parcel Service Inc.
- Aviation Capital Group Corp.
- Kenan Advantage Group Inc.
- General Maritime Corp.
- JetBlue Airways Corp.
- Mobile Mini Inc.
- YRC Worldwide Inc.
- Trailer Bridge Inc.
- Ozburn-Hessey Holding Co. LLC
- Horizon Lines Inc.
- Avis Budget Group Inc.
- Swift Transportation Co.
- Dollar Thrifty Automotive Group Inc.
- JHCI Acquisition Inc.
- US Xpress Enterprises Inc.
- Hertz Global Holdings Inc.
- Global Aviation Holdings Inc.
- United Maritime Group LLC
- Marquette Transportation Co. Holdings LLC
- Western Express Inc.
- Aircastle Ltd.
- American Petroleum Tankers LLC
- AWAS Aviation Capital Ltd.
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