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Votorantim Cimentos North America Inc. Jul 10
Standard & Poors, July 2010
Attractive position as one of the leading cement producers in the Great Lakes region of North America Good cost position Moderate debt leverage Demonstrated support from investment-grade parent Votorantim Participacoes S.A. Limited geographic diversity Cyclical and mature industry The ratings on Toronto-based Votorantim Cimentos North America Inc. (VCNA) reflect what Standard & Poor's Ratings Services views as the company's strong market position as a leading cement producer in the insulated and consolidated Great Lakes market, solid cost position stemming from the quality of its assets, moderate debt leverage, and demonstrated support from its investment-grade parent, Votorantim Participacoes S.A. (VPar; BBB/Negative/--). Partially offsetting these factors is what we view as the company's limited geographic diversity and participation in the cyclical and...
Companies mentioned in this report are: Votorantim Cimentos North America Inc.,Votorantim Participacoes S.A.,Banco Votorantim S.A.,Votorantim Financas S.A.,BV Leasing Arrendamento Mercantil S.A.,St. Marys Cement Inc.
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
Votorantim Cimentos North America Inc.,Votorantim Participacoes S.A.,Banco Votorantim S.A.,Votorantim Financas S.A.,BV Leasing Arrendamento Mercantil S.A.,St. Marys Cement Inc.