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Asurion LLC Jun 11
Standard & Poors, June 2011
Abstract
Good historical revenue and EBITDA growth, which enable the company to quickly deleverage despite the difficult economy. A well-integrated geographically diversified and effective business model. An experience and knowledgeable management team. Significant leverage and fluctuating credit metrics, which resulted in a leveraged balance sheet. Dependence on new subscribers and contract renewals. Product concentration risk. The counterparty credit rating on Asurion LLC (formerly known as Asurion Corp.) reflects its significant leverage and fluctuating credit metrics, which resulted in a leveraged balance sheet; its financial management strategy; and its dependence on new subscribers and contract renewals, which could challenge the sustainability of its leading competitive position. Offsetting these weaknesses are Asurion's operating performance, which is a key strength to the rating, and...
Companies mentioned in this report are: Asurion Corp.
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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