|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Visteon Corp. Ratings Unaffected By Earnings Announcement Feb 06
Standard & Poors, Feb 2006
Abstract
NEW YORK (Standard & Poor's) Feb. 10, 2006--Standard & Poor's Ratings Services said today that its rating and outlook on Visteon Corp. (B+/Negative/B-2) will not be immediately affected by the company's announcement of weaker-than-expected earnings for fiscal 2005 ended Dec. 31, 2005. Visteon reported EBIT-R (EBIT before restructuring charges) of negative $164 million, which was lower than its guidance of negative $125 million. The pro forma EBIT-R measure takes into account the completion of a deal with Ford Motor Co. (BB-/Negative/B-2) that transferred several unprofitable plants and businesses to a Ford-managed entity. Visteon attributed the shortfall in earnings to lump-sum settlements with customers for outstanding commercial items. Earnings were also hurt by weaker-than-expected performance in certain European operations and by...
Companies mentioned in this report are: Visteon Corp.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
