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Issuer Ranking: Asia Pacific Transportation Companies, Strongest To Weakest Dec 11
Standard & Poors, Dec 2011
Abstract
Standard & Poor's Ratings Services anticipates a tough operating environment for 2012 for most transportation companies in Asia Pacific. A deeper economic slowdown than we expected could affect demand and prices for most companies in this industry. Moreover, access to and cost of potential funding could worsen. Fuel prices are also still high (though volatile) after their sharp rise in the first five months of the year. The challenges will be particularly intense in the case of highly competitive segments that have excess capacity. For instance, many significant players in the oil tankers and liners segment within the shipping sector risk becoming distressed as competition has forced them to order expensive very-large vessels despite overcapacity. Airlines are also likely to...
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.
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