Industry Report Card: For Global Auto Suppliers, Mixed Economic Prospects Mean A Mixed Outlook Oct 12
- Language: English
- Published: October 2012
- Region: Global
??Largest independent U.S. heavy-duty truck parts distributor; ??Diversified customer base; and ??Successful acquisition strategy. Corporate Credit Rating ??Competitive industry; ??Small scope and scale, with geographic concentration; and ??Relatively high leverage. Our ratings on The Woodlands, Texas-based FleetPride Corp. reflect Standard & Poor's Ratings Services' view that the company's leverage will move in line with our expectations for the current rating of leverage below 5x, and that the maturity profile is improved because of its recently completed refinancing. We believe demand for heavy-duty truck parts will continue rising, in part because of a modest recovery in the economy and the historically high average age of the truck fleets, which increases the need for maintenance and replacements parts. Moreover, as revenue has...
Companies mentioned in this report are: FleetPride Corp.
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Research Type: Full Analysis