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Summary: ABB Ltd. Jul 09
Standard & Poors, July 2009
The ratings on ABB Ltd. reflect the group's strong business risk profile, leading global positions, strong technology base, and good earnings diversity in its core businesses of power transmission and distribution, and automation. They also reflect the group's modest financial risk profile, including recently strong debt protection measures and sound free operating cash flow generation and liquidity positions, as well as expectations that the group will maintain a conservative financial policy. ABB's current performance has clearly been affected by the current economic downturn since the fourth quarter of 2008, and weakened further in the second quarter of 2009. Sales in the quarter decreased by 12% year-on-year. The group's EBIT fell by some 28%, and the EBIT margin fell to 13.2%...
Companies mentioned in this report are: ABB Ltd.
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