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Auto Suppliers Visteon And Delphi See Pros And Cons Of Independence, Says S&P Report Jul 05
Standard & Poors, July 2005
Abstract
NEW YORK (Standard & Poor's) July 29, 2005--Delphi Corp. (B+/Negative/B-3) and Visteon Corp. (B-/Watch Pos/--), two of the nation's largest auto suppliers, were both born of spin-offs from giant automakers just a few years ago and set loose to compete in what was considered a surging auto market. Since being christened as independents, however, these two companies have variously faced restrictive labor agreements, pressure on their margins, accounting troubles, and more. By the end of this year (after Visteon completes a restructuring agreement), they might even share the same speculative-grade 'B+' corporate credit rating. But a closer inspection of these credit profiles reveals big differences. Standard & Poor's Ratings Services examines these in its report: 'Peer Comparison: Delphi Corp. and...
Companies mentioned in this report are: Ford Motor Co.,Motors Liquidation Co. (fka General Motors Corp.),Delphi Automotive LLP,Visteon Corp.
Action: General Comment
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.
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