|
|
 |
|
Viewing report
|
|
|
|
Acquisitions Expand the Horizon of Australian and New Zealand Companies Oct 00
Standard & Poors, Oct 2000
Abstract
Credit quality generally is stable in the Australasian food and consumer products industry, reflecting stable flows from largely recession-resistant products, and the strong market positions held by many of the key players. Key credit risks faced by the industry are consolidation-with acquisitions and mergers the primary means of business expansion-competition, and commodity price and exchange rate volatility. Although credit quality is likely to benefit from ongoing industry rationalization, resulting in fewer players in relatively small domestic markets, the credit ratings of some companies could be threatened if large debt-funded transactions are not followed by efforts to improve credit protection measures, or where companies seek growth through expansion in offshore markets. Recent transactions underpinning industry consolidation largely have been in offshore...
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings),The Coca-Cola Co.,New Zealand,Burns, Philp & Co. Ltd.,Coca-Cola Enterprises Inc.,New Zealand Dairy Board,Coca-Cola Amatil Ltd.,Philippines (Republic of the),Foster's Group Ltd.,Bonlac Foods Ltd.,Kiwi Co-operative Dairies Ltd.
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.
|
|
|
|
