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Acuity Brands Inc. Dec 11
Standard & Poors, Dec 2011
Abstract
Brand-name products, strong distribution, and solid barriers to entry; Sizable portion of sales coming from the more-stable retrofit and replacement markets; Limited capital intensity. Cyclicality of the company's primary market, the U.S. nonresidential construction sector; Exposure to pricing pressures and raw material cost fluctuations; and Limited geographic diversity. Standard & Poor's Ratings Services' ratings on Atlanta-based lighting products manufacturer Acuity Brands Inc. (Acuity) reflect our expectation that the company will continue to maintain its moderate financial policies, so it can continue to withstand stabilized but still soft demand conditions in U.S construction markets. The company's credit metrics are slightly better than our expectations for the rating, providing some room for any unexpected deterioration in operating performance, should weak demand or...
Companies mentioned in this report are: Acuity Brands Inc.
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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