Risk-to-Price Commentary: Autoroutes Paris-Rhin-Rhone S.A. Feb 11
Standard & Poors, February 2011
Abstract
Eurozone industrial production decreased marginally, by 0.1% in December, compared with an increase of 1.4% the month before, the European Union's statistics office in Luxembourg said Feb. 14. Given that analysts expected flat growth, the actual number came very close to expectations (see chart 1). Unusually cold temperatures arguably hindered growth in December, and German industrial output had already reached a high level before flattening. While fundamental indicators, on average, look constructive, the Valuation and Risk Strategies research team believes that uncertainty still clouds the view for the future path of economic growth in Europe. European investors will likely need to assess their investment risks carefully. Following release of the latest production figures, we looked for corporate bond investment opportunities...
Companies mentioned in this report are:
- John Deere Capital Corp.
- General Electric Capital Corp.
- 3M Co.
- Parker-Hannifin Corp.
- Textron Inc.
- Aeroports de Paris
- Manpower Inc.
- Caterpillar International Finance Ltd.
- United Parcel Service Inc.
- BRISA Finance B.V.
- GE Capital European Funding
- GE Capital UK Funding
- Autoroutes Paris-Rhin-Rhone S.A.
- Rentokil Initial PLC
- Adecco International Financial Services B.V.
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- John Deere Capital Corp.
- General Electric Capital Corp.
- 3M Co.
- Parker-Hannifin Corp.
- Textron Inc.
- Aeroports de Paris
- Manpower Inc.
- Caterpillar International Finance Ltd.
- United Parcel Service Inc.
- BRISA Finance B.V.
- GE Capital European Funding
- GE Capital UK Funding
- Autoroutes Paris-Rhin-Rhone S.A.
- Rentokil Initial PLC
- Adecco International Financial Services B.V.
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