- ID: 1856341
- January 2011
- Standard & Poors
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
Risks maintained at manageable levels with limited concentration risk Adequate liquidity backed by close relationships with its main bank and other creditor banks Weak capital base compared to peers Weaker business franchise than peers holding high-margin, long-term interests in energy resource projects Sojitz Corp.'s (BBB-/Stable/--) financial profile has been strengthened by its efforts to improve its capital structure while maintaining a prudent investment stance. The improvement came after a period of extensive financial restructuring and support from creditor banks. Nevertheless, the company's business franchise is weak compared to its peers, as it has fewer high-margin, long-term energy resource-related interests and a weaker revenue base in the non-resource businesses. For Sojitz to improve its credit quality, Standard & Poor's Ratings Services...
Companies mentioned in this report are: Sojitz Corp.