- Language: English
- Published: March 2012
- Region: Global
Tower International Inc. Oct 11
- Published: October 2011
- Region: Global
- Standard & Poors
One of largest suppliers in the auto stamping industry; and Fairly balanced geographic diversity. Intense competition and pricing pressures; Leverage still fairly high; and Exposure to volatile raw material prices outside North America. The ratings on Michigan-based Tower International Inc. reflect what Standard & Poor's Ratings Services considers Tower's aggressive financial risk profile and weak business risk profile (The company has several major competitors, and we assume vehicle production will remain sensitive to a weak economy). We expect Tower's sales for 2011 to grow at least in the single digits year over year. In 2011, we expect U.S. light-vehicle sales to increase about 9%, to 12.6 million units, but European light-vehicle sales to fall slightly. If light-vehicle demand falls modestly...
Companies mentioned in this report are: Tower International Inc.,Tower Automotive Holdings U.S.A. LLC,TA Holdings Finance Inc.
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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Tower International Inc.,Tower Automotive Holdings U.S.A. LLC,TA Holdings Finance Inc.