Summary: Ingles Markets Inc. Jan 13
Standard & Poors, January 2013
Abstract
The ratings on North Carolina-based supermarket chain Ingles Markets Inc. reflect Standard & Poor's Ratings Services' expectation that the company will have stable profits and credit metrics in the near term, and that our assessment of the company's financial risk will remain "aggressive." We view Ingles' business risk as "fair," based on its consistent historical operating performance, which is better than most competitors, and its vertical integration that allows for cost benefits. Ingles has a good track record of growing revenues. This is evident in recent operating results, as it yielded benefits from improving in-store experience through product initiatives and pricing strategies. We anticipate EBITDA margins will remain almost flat in fiscal 2013, at around 5.8%, as we think sales...
Companies mentioned in this report are:
- Ingles Markets Inc.
Action: Review
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.
- Ingles Markets Inc.
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