AGCO Corp.'s New $300 Million Notes For GSI Acquisition Rated 'BBB-'; Corporate Rating Affirmed With Stable Outlook Nov 11
- Language: English
- Published: November 2011
Solid market positions in Europe and South America; Product-line breadth and geographic diversity; and An extensive dealer network. Volatile industry, tied to agricultural commodity prices, which can vary considerably; and Competitive industry conditions. The ratings on Duluth, Ga.-based AGCO Corp. reflect the company's satisfactory business risk profile and intermediate financial risk profile. Although agricultural equipment markets have traditionally been quite cyclical, geographic diversity and solid market positions support AGCO's business. The company's focus on internal improvements, which improve profitability, should bolster operational performance. AGCO has good market shares in South America and Europe. Although AGCO's presence in North America is only moderate, profitability has improved here. AGCO's reliance on offshore Brazilian and European facilities for manufacturing can make for volatile...
Companies mentioned in this report are: AGCO 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