Visteon Corp. Nov 08
Standard & Poors, November 2008
Abstract
Fair product and geographic breadth Good technology and market positions in certain product segments Currently adequate financial resources to fund losses and restructuring Worsening outlook for auto sales volumes caused by global slowdown in most major markets Continued sales exposure to Ford Motor Co. in the U.S. (12% of sales in the first half of 2008), and total sales exposure in North America to the Michigan-based automakers of 16% Extensive restructuring of structural costs and manufacturing footprint under way but far from complete Exposure to volatile commodity costs Heavy, underfunded employee benefit liabilities The ratings on Visteon Corp. reflect the company's negative cash flow resulting from vehicle production cuts, continued pressure from high raw material prices, and a costly and...
Companies mentioned in this report are: Visteon Corp.,Ford Motor Co.
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.
Research Type: Full Analysis
Visteon Corp.,Ford Motor Co.
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