The ratings on Germany-based branded consumer goods and adhesives manufacturer Henkel AG & Co. KGaA (Henkel) reflect Standard & Poor's view of the group's strong business risk profile and its modest financial risk profile. Henkel's key business strengths include the company's solid market positions in continental Europe in home care and personal care products and its worldwide leading positions in adhesives, sealants, and surface-treatment sectors. Henkel owns strong brands but discloses lower profitability in the consumer goods segments than its leading peers. The adhesives business partially exposes Henkel to cyclicality, though it enjoys strong growth prospects as well as a potential for higher profitability, with market conditions more favorable for adhesives' price increases than the consumer goods sector. Our view...
Companies mentioned in this report are: Henkel AG & Co. KGaA
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >