ARCHIVE | Criteria | Corporates | Industrials: Key Credit Factors: Business And Financial Risks In The Automaker Industry Sep 08

Standard & Poors, September 2008

Abstract
(Editor's Note: This article has been superseded by Key Credit Factors: Criteria For Rating The Global Automaker Industry, published Oct. 1, 2010.) Standard & Poor's Ratings Services' analytic framework evaluates the qualitative and quantitative factors of an issuer to determine a credit rating opinion on that issuer. The analytic framework for industrial companies in all sectors, including automakers, is divided into two major segments: The first part is fundamental business risk analysis. This step forms the basis and provides the industry and business contexts for the second segment of the analysis, an in-depth financial risk analysis of the company. Our rating analysis of automakers begins with the industry, business, management, and competitive positions of the entity before we consider the...

Companies mentioned in this report are:
- Ford Motor Co.
- Motors Liquidation Co. (fka General Motors Corp.)
- Renault S.A.
- Nissan Motor Co. Ltd.
- Daimler AG
- Honda Motor Co. Ltd.
- Toyota Motor Corp.
- Fiat SpA
- Peugeot S.A.
- Volkswagen AG
- BMW AG
- Tata Motors Ltd.
- Hyundai Motor Co.
- Mitsubishi Motors Corp.
- Suzuki Motor Corp.
- Kia Motors Corp.
- Fuji Heavy Industries Ltd.
- Mazda Motor Corp.
- Chrysler Group LLC

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.

- Ford Motor Co.
- Motors Liquidation Co. (fka General Motors Corp.)
- Renault S.A.
- Nissan Motor Co. Ltd.
- Daimler AG
- Honda Motor Co. Ltd.
- Toyota Motor Corp.
- Fiat SpA
- Peugeot S.A.
- Volkswagen AG
- BMW AG
- Tata Motors Ltd.
- Hyundai Motor Co.
- Mitsubishi Motors Corp.
- Suzuki Motor Corp.
- Kia Motors Corp.
- Fuji Heavy Industries Ltd.
- Mazda Motor Corp.
- Chrysler Group LLC

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