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Atlas Copco AB Jun 11
Standard & Poors, June 2011
Abstract
Leading market positions in core business areas and a high share of stable aftermarket sales. Revenue diversity by geography and customer base, which translates into significant earnings stability. Strong and relatively stable cash flow generation, supported by robust and stable profitability. Cyclical demand patterns for the company's markets and products. Competitive pressure in most segments, necessitating continuous product development. A shareholder-friendly financial policy, with substantial parts of free cash flow generation paid in dividends. The ratings on Sweden-based industrial machinery manufacturer Atlas Copco AB reflect Standard & Poor's Ratings Services' view of the group's strong business risk profile and modest financial risk profile. Support for the ratings comes from the group's leading market positions, good cost flexibility, strong profitability, high...
Companies mentioned in this report are: Atlas Copco 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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