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Industry Report Card: Creditworthiness Of Asia-Pacific Transportation Firms Under Pressure Oct 08
Standard & Poors, Oct 2008
Abstract
The creditworthiness of transportation companies in the Asia-Pacific region, particularly airline and shipping firms, is under increasing downward pressure. This is largely due to surging fuel prices and weakening transport demand on the back of the global economic slowdown. Although the Asia-Pacific regional economy has been relatively steady compared with other parts of the world, there have been signs of economic deceleration, even in China and India. This uncertainty has been exacerbated by turmoil in the U.S. and European economies, and we believe economic growth worldwide will become increasingly constrained as financing conditions deteriorate. Consequently, we expect the business environment for regional transportation companies to be more challenging. In 2008, most regional airlines are facing significant earnings pressure due to...
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.
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