- Published: May 2012
- Region: Austria
Summary: Franz Haniel & Cie GmbH Nov 01
- Published: November 2001
- Standard & Poors
The ratings on Franz Haniel & Cie. GmbH (FHC) reflect the company's adequate financial flexibility, its ability to control the cash flows of its fully and majority owned subsidiaries, and its strong capital structure. By year-end 2000, FHC would have been able to cover its net debt more than 12 times (x) by liquidating its holdings in both listed and nonlisted business units. A similar, above-average debt coverage ratio is expected for 2001, although this debt coverage would drop to about 5x on a pro forma basis in 2001, if the two pending acquisitions of Fels/Hebel Group and Ytong by Haniel Bau-Industrie GmbH were taken into account. Although a substantial share of FHC's holdings are listed, Standard & Poor's views...
Companies mentioned in this report are: Franz Haniel & Cie GmbH
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Franz Haniel & Cie GmbH