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Risk-to-Price Commentary: Compass Group PLC Aug 11
Standard & Poors, Aug 2011
Abstract
On Aug. 24, German business confidence once again fell more than economists forecast in August, according to the Munich-based Ifo Institute survey. The Ifo business climate index, based on a survey of 7,000 executives, declined to 108.7, the lowest since June 2010, from 112.9 in July. Economists forecasted a decline to 111 (see chart 1). Ifo's gauge of the current situation declined to 118.1 from 121.4 in July, while an index measuring executives' expectations slipped further to 100 from 105 in the previous month. Although investor confidence has continued to slide since July, the index still remains high in relation to historical levels over the past three years. Furthermore, as we noted in the commentary on Lanxess (see 'Risk-to-Price Commentary:...
Companies mentioned in this report are: Beam Inc.,McDonald's Corp.,Barclays Bank PLC,Marks & Spencer PLC,Pearson PLC,Ralph Lauren Corp.,Daily Mail & General Trust PLC,Compass Group PLC,SES S.A.,Next PLC,Enterprise Inns PLC,Dignity Finance PLC,Arsenal Securities PLC,Pearson Funding One PLC
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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