FleetPride Corp. Jan 12
- ID: 2043048
- January 2012
- Standard & Poors
??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.
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