Issuer Ranking: Global Auto Suppliers, Strongest To Weakest Feb 12
Standard & Poors, February 2012
Abstract
Standard & Poor's Ratings Services' outlook for credit quality in the global auto supply sector remains broadly stable as we enter 2012, but we see downside risk in the operating environment because of uncertainty in the global economy, capital markets, and in particular a vulnerable auto sales outlook for Europe. We view the industry and economic environment for the sector as neutral for ratings in our base-case scenario for 2012, albeit with regional differences more pronounced than in early 2011. We continue to view credit quality in the global auto supply sector as neutral, despite the risk of a recession in the U.S. (moderate probability) and Europe (high probability), and a slowdown in emerging markets growth rates. We believe growth...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Cooper Tire & Rubber Co.
- Dana Holding Corp.
- Federal-Mogul Corp.
- The Goodyear Tire & Rubber Co.
- Johnson Controls Inc.
- Robert Bosch GmbH
- Metaldyne LLC
- Exide Technologies
- Denso Corp.
- Lear Corp.
- Harman International Industries Inc.
- Transtar Holding Co.
- Remy International Inc.
- BorgWarner Inc.
- Penske Automotive Group Inc.
- Accuride Corp.
- FleetPride Corp.
- Sonic Automotive Inc.
- Group 1 Automotive Inc.
- Stoneridge Inc.
- American Axle & Manufacturing Holdings Inc.
- GKN Holdings PLC
- Bridgestone Corp.
- Tenneco Inc.
- Continental AG
- Autoliv Inc.
- Visteon Corp.
- Meritor Inc.
- Shiloh Industries Inc.
- Knorr-Bremse AG
- Compagnie Generale des Etablissements Michelin S.C.A.
- AutoNation Inc.
- MetoKote Corp.
- Asbury Automotive Group Inc.
- Toyota Industries Corp.
- TRW Automotive Inc.
- Aisin Seiki Co. Ltd.
- Cooper-Standard Automotive Inc.
- American Tire Distributors Inc.
- Piaggio & C. SpA
- Commercial Vehicle Group Inc.
- PT Gajah Tunggal Tbk.
- Europcar Groupe S.A.
- KAR Auction Services Inc.
- Hyundai Mobis Co. Ltd.
- Allison Transmission Inc.
- LKQ Corp.
- Pittsburgh Glass Works LLC
- Mark IV LLC
- TMD Friction Group S.A.
- HHI Holdings LLC
- Diversified Machine Inc.
- A.T.U Auto-Teile Unger Handels GmbH & Co. KG
- Tower International Inc.
- Pinafore Holdings B.V.
- Hyva Global B.V.
- Autoparts Holdings Ltd.
- International Automotive Components Group S.A.
- UCI Holdings Ltd.
- Delphi Automotive PLC
- Affinia Group Intermediate Holdings Inc.
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