- Published: October 2011
- Region: Global
Summary: AGCO Corp. Aug 06
- Published: August 2006
- Standard & Poors
The ratings on Duluth, Ga.-based AGCO Corp. reflect the company's satisfactory competitive business position as the world's third-largest agricultural equipment manufacturer, with annual sales of $5.4 billion. The company's aggressive financial profile had made it vulnerable during the last prolonged cyclical downturn, but with the market recovery of the last several years, AGCO's credit measures are in line with the ratings. The company's debt usage should diminish in the future, as AGCO is now expected to be less acquisitive. The rebound in AGCO's operating performance that started in 2003 has weakened somewhat in recent quarters, as market conditions for agricultural equipment softened. Revenues for the trailing 12 months declined to $5.2 billion as of June 30, 2006, from $5.5 billion...
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.
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 >