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ABB Ltd. Apr 06
Standard & Poors, April 2006
Abstract
Sound underlying profitability and a good market outlook for ABB's core Automation Technologies and Power Technologies operations; Strong market positions in two low-risk capital goods markets (power equipment and automation); Well-diversified sales in terms of geographical spread and customer distribution; and Management strongly committed to, and with a successful track record of strategic decisions in, restoring the group's financial profile, in particular by means of the recent rights issue. Financial improvement from a weak position; A still relatively leveraged financial structure; Exposure to market cyclicality and competitive pressure in all key business segments; and A remaining portfolio of underperforming non-core activities. The ratings on ABB Ltd. reflect the group's strong business risk profile, based on leading global positions and strong...
Companies mentioned in this report are: ABB Ltd.,ABB Capital B.V.,ABB Asea Brown Boveri Ltd.,ABB Treasury Center (USA) Inc.,ABB Finance Inc.,ABB International Finance Ltd.,ABB Holdings Inc.,ABB Financial Services AB
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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