Tenneco Inc. Nov 10
Standard & Poors, November 2010
Abstract
Leading positions with brand-name products Good geographic diversification Stricter emissions standards and vehicle safety concerns boosting customer demand Intense competition and pricing pressures Moderate customer concentration Significant product line concentration The ratings on Tenneco Inc. reflect Standard & Poor's Ratings Services' opinion that the recovery in light-vehicle production in North America and Europe will continue and that the company can sustain its current profitability because of tighter cost controls, enhanced operational efficiency, and ongoing expansion in the commercial-vehicle market. We expect U.S. light-vehicle sales to increase by roughly 10% in 2010, to about 11.4 million units, as the global economy responds to relaxed monetary policies and fiscal stimulus programs and as vehicle demand rebounds. The company implemented assorted restructuring initiatives...
Companies mentioned in this report are:
- Tenneco Inc.
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
- Tenneco Inc.
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