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Assessing Global Capital Goods Companies Oct 06
Standard & Poors, Oct 2006
Abstract
Within the capital goods sector, one can find a wide array of end markets and products, including analytical instrumentation, farm and construction equipment, electrical equipment such as lighting and sensors, water purification and filtration equipment, security and safety equipment, automation and control systems, and flow control--just to name a few. Broadly, most capital goods companies fall into one of six categories: Heavy industrial capital equipment; Capital components; Electrical equipment; Construction, mining, and farm machinery; Consumable or short-lived assets; and Industrial services. Although this significant business diversity exists within the capital goods sector, the sector has in common several key credit factors underlying its successful business and financial risk profiles. At any given time, movements in ratings or outlooks on issuers...
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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