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Armtec Holdings Ltd. Dec 11
Standard & Poors, Dec 2011
Abstract
Exposure to cyclical construction industry and to fluctuations in commodity costs Competitive market subject to pricing pressure during low demand periods Cash flows are vulnerable to operating margins, which can be affected by a number of factors including the company's ability to fully pass on input material cost increases and poorly or improperly bid contracts High debt-to-cash flow metrics and limited financial flexibility and liquidity Largest manufacturer and marketer of infrastructure products in Canada Diverse product offering and customer list More than half of revenues related to less-cyclical public infrastructure projects The ratings on Armtec Holdings Ltd. reflect what Standard & Poor's Ratings Services views as the company's weak business risk profile, highlighted by its exposure to the cyclical commercial...
Companies mentioned in this report are: Armtec Holdings Ltd.
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
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