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ABB Ltd. May 02
Standard & Poors, May 2002
Abstract
Leading global market positions in most of the group's industrial divisions. Broad geographical diversification in all business segments. A less cyclical and capital intensive product portfolio, as a result of efforts to change the group's business portfolio through acquisitions and divestitures. Commitment to restore a conservative financial profile through various measures, including asset disposals. Ongoing transformation, which has yet to translate into better profitability. The downturn in ABB's utilities, manufacturing and consumer industries, and oil, gas, and petrochemicals led to an impaired margin in 2001. Continued exposure to capital-intensive industry areas. Uncertainty about future asbestos claims. The ratings on Switzerland-based engineering group ABB Ltd. are supported by ABB's broadly solid business fundamentals and its position as a leading global player...
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.,Scandinavian Reinsurance Co. Ltd.,ABB International Finance Ltd.,Sirius International Insurance Corp.,Sirius America Insurance Co. (OLD),ABB Financial Services Australia 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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