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Rovi Corp. Feb 12 Product Image

Rovi Corp. Feb 12

  • ID: 2048544
  • February 2012
  • Standard & Poors

Abstract
High barriers to entry from a large patent portfolio; Very strong market position in niche markets; and Good EBITDA margin. Some technology risk; Product lifecycle exposure; and Relatively high debt leverage. The rating on Santa Clara, Calif.-based Rovi Corp. reflects Standard & Poor's Ratings Services' expectation that the company's good operating performance will continue as new product rollouts offset a decline in legacy analog products. Rovi Entertainment Store, formerly RoxioNow, has the potential to open up another significant revenue stream for the company, but it will indirectly compete against several sizable firms, including Netflix Inc., Amazon.com, and Apple Inc.'s iTunes. We consider Rovi's business risk profile as "fair" (as predefined in our criteria), based primarily on its good EBITDA margin...

Companies mentioned in this report are: Rovi Corp.
Action: Review

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

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