Summary: Foster Wheeler AG Aug 11

Standard & Poors, August 2011

Abstract
Standard & Poor's Ratings Services' rating on Zug, Switzerland-based engineering and construction (E&C) firm Foster Wheeler AG reflects our opinion that the company has established a track record of good operating performance and moderate financial policy. Despite weak economic conditions and moderately lower revenues in 2010, we believe Foster Wheeler's good free cash flow generation, strong liquidity position, and satisfactory credit metrics will continue to support the rating. The company has generated good free cash flow over the past several years, allowing it to hold sizable cash balances. As of June 30, 2011, the company had about $1 billion in cash, and funds from operations (FFO) to total debt of 67%. We expect the company to maintain at least adequate...

Companies mentioned in this report are: Foster Wheeler AG,The Shaw Group Inc.
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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Foster Wheeler AG,The Shaw Group Inc.

Customers who bought this item also bought

• Military Robots and Unmanned Vehicles Market Shares, Strategies, and Forecasts, Worldwide, 2010 to 2016
• Servant Leadership for Higher Education. Principles and Practices
• Private Institutional Community Services in Indonesia
• Libya Defence and Security Report Q3 2010
• RUAG Holding AG: Defense Company Profile and SWOT Report
• Unmanned Aircraft Market Shares, Strategies, and Forecasts, Worldwide, 2011 to 2017
• World Guide to Foundations 2013
• Columbine a Decade Later: The Prevention of Homicidal Violence in Schools. New Directions for Youth Development, No. 129. J-B MHS Single Issue Mental Health Services
• First Responder, Border Patrol, Homeland Security, Law Enforcement, and Security Robots: Market Shares, Strategies, and Forecasts, Worldwide, 2012 to 2018
• High-Growth Enterprises: What Governments Can Do to Make a Difference