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Report Card: Stable Outlook For Most Of Our Rated EMEA Consumer Goods Companies Masks Diverging Realities Apr 12 Product Image

Report Card: Stable Outlook For Most Of Our Rated EMEA Consumer Goods Companies Masks Diverging Realities Apr 12

  • Published: April 2012
  • Standard & Poors

FEATURED COMPANIES

  • Agrokor d.d.
  • Campofrio Food Group S.A.
  • Diageo PLC
  • Henkel AG & Co. KGaA
  • Nestle S.A.
  • R&R Ice Cream PLC
  • MORE

Abstract
Our outlook for the consumer goods industry in Europe, the Middle East, and Africa (EMEA) reveals a widening gap in creditworthiness between companies at either end of our rating spectrum. Of the 47 companies we rate, seven have negative outlooks and four have positive outlooks. However, speculative-grade companies (rated 'BB+' or lower) account for almost all of the negative outlooks, or 30% of the 15 companies in this category. By contrast, except for one company, all of the outlooks on our investment-grade companies are stable or positive. Generally speaking, investment-grade companies with strong business risk profiles weathered the recessionary environment in Western Europe--accompanied by persistently high commodity prices--and reported continuing revenue growth, thanks to their diversified and innovative product mix...

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, READ MORE >

- British American Tobacco PLC
- Nestle S.A.
- Unilever PLC
- Swedish Match AB
- LVMH Moet Hennessy Louis Vuitton S.A.
- Electrolux AB
- Danone
- SEB S.A.
- Roquette Freres
- Henkel AG & Co. KGaA
- Imperial Tobacco Group PLC
- FAGE International S.A
- PPR S.A.
- Diageo PLC
- Remy Cointreau S.A.
- Head N.V.
- Premier Foods PLC
- Agrokor d.d.
- Barry Callebaut AG
- Coca-Cola HBC AG
- Anheuser-Busch InBev N.V./S.A.
- Concern Kalina (JSC)
- L'Oreal S.A.
- Suedzucker AG
- BSH Bosch und Siemens Hausgeraete GmbH
- Foodcorp (Proprietary) Ltd.
- Pernod Ricard S.A.
- Central European Distribution Corp.
- Anadolu Efes Biracilik ve Malt Sanayii AS
- Tereos Union de Cooperatives Agricoles a Capital Variable
- Reckitt Benckiser Group PLC
- Philip Morris International Inc.
- Luxottica Group SpA
- Campofrio Food Group S.A.
- R&R Ice Cream PLC
- Bakkavor Group ehf
- Iglo Foods Holdings Ltd.
- Mriya Agro Holding PLC
- Agroton Public Ltd.
- Boparan Holdings Ltd.
- Ontex IV S.A.
- Refresco Group B.V.
- Holding KazExportAstyk JSC
- Heineken N.V.
- Creativ Group OJSC
- Safilo SpA

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