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Aisin Seiki Co. Ltd. Aug 11
Standard & Poors, Aug 2011
Abstract
Strong position in high-value-added auto components, including automatic transmissions Good product diversity Ongoing operational benefits it derives from its ties to Toyota Motor Modest financial risk profile characterized by strong cash flow protection and relatively low debt leverage Relatively limited customer and geographic diversity Exposure to fluctuations in raw material prices and intense global competition among auto component suppliers The ratings on Aisin Seiki Co. Ltd. (A+/Negative/A-1) reflect our view of the company's stand-alone credit profile (SACP), which comprises a strong business risk profile and a modest financial risk profile. We set the ratings on Aisin a notch above its SACP to reflect the possibility of extraordinary support from Toyota Motor Corp. (AA-/Negative/A-1+). Standard & Poor's Ratings Services assesses Aisin's...
Companies mentioned in this report are: Aisin Seiki Co. Ltd.
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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