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Delphi Automotive LLP Aug 11 Product Image

Delphi Automotive LLP Aug 11

  • ID: 1858827
  • August 2011
  • Standard & Poors

Abstract
Improved customer diversity, following restructuring; Good geographic diversity, with a presence in all major auto markets; and Positive cash flow. Intense pricing pressure from customers with strong purchasing power; Cyclical industry experiencing weak demand; and Strong, well-positioned competitors. The ratings on Troy, Mich.-based Delphi Automotive LLP reflect Standard & Poor's Ratings Services' opinion of the company's significant financial risk profile and its weak business risk profile. Delphi's significant financial profile indicates our expectation that lease-adjusted total debt to EBITDA will remain at about 2x over the next two years, because we believe Delphi's financial policy will continue to favor relatively low leverage. We also believe its restructured cost base and focused competitive position, following emergence from bankruptcy, can support continued,...

Companies mentioned in this report are: Delphi Automotive LLP
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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Delphi Automotive LLP

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