- Language: English
- Published: August 2013
- Region: Germany
Summary: BSH Bosch und Siemens Hausgeraete GmbH Aug 11
- Published: August 2011
- Standard & Poors
The ratings on Germany-based household appliances manufacturer BSH Bosch und Siemens Hausgeraete GmbH (BSH) are underpinned by Standard & Poor's Ratings Services' view of the group's strong business risk profile. This reflects the group's leading positions in the mature Western European home appliance market, especially in Germany; its strong brand portfolio driving demand in a brand-sensitive environment; and its high-end segment product positioning. We also view positively the group's track record in generating high and stable operating margins and its ability to withstand economic downturns. However, the ratings are constrained by our view that durable consumer goods are generally more sensitive to economic cycles than consumer staples (food, beverages, and tobacco) due to the discretionary nature of demand for these...
Companies mentioned in this report are: BSH Bosch und Siemens Hausgeraete GmbH
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BSH Bosch und Siemens Hausgeraete GmbH