Summary: Johnson Controls Inc. Nov 03
- ID: 2085713
- November 2003
- Standard & Poors
The ratings reflect Johnson Controls Inc.' top three global market positions in all of its major businesses, good business diversity, consistently solid profitability, and moderate financial policy. Johnson Controls is one of the world's largest providers of automotive components and systems and building control devices. The automotive group accounts for about 75% of total company revenue. The company manufactures seat systems, interior components and systems, and batteries. The bulk of automotive revenue comes from the original equipment segment, where competition is intense, demand is cyclical, and a concentrated customer base exerts ongoing pricing pressure. The company's good geographic diversity, broad product line, and strong engineering capabilities somewhat offset these risks. Automotive production has declined during 2003, but Johnson Control's good...
Companies mentioned in this report are: Johnson Controls Inc.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >