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S&P Credit Research1002 word report
published Jun 30, 2008
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S&P Credit Research
| Abstract: | The ratings on Germany-based postal service provider Deutsche Post AG (DP) reflect the group's strong business risk profile, supported in particular by its cash-generative Mail business and strong ongoing free cash flow generation. The ratings are constrained by the group's intermediate financial profile and by DP's exposure to the more cyclical and competitive express delivery and logistics industries, which require significant cash expenditure for investments and bolt-on acquisitions to maintain or achieve market leadership. In May 2008, DP announced restructuring initiatives that are based on a 10-year cooperation agreement with U.S. competitor United Parcel Service Inc. (AA-/Stable/A-1+). The final contract, under which DP will transfer its domestic air uplift for express business in North America to UPS, is still under
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Deutsche Post AG Publication date: 30-Jun-2008 Primary Credit Analyst: Eve Greb, Frankfurt (49) 69-33-999-124; eve_greb@standardandpoors.com Secondary Credit Analyst: Leigh Bailey, London (44)...
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| Report Type: | Summary
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| Ticker: | DPW@GR
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| Issuer: | Deutsche Post AG
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| GICS: | Air Freight & Logistics (20301010)
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| Sector: | Corporations, Global Issuers, Transportation
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| Country: | Germany
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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- Deutsche Post AG $400.00
Global network, with leading market positions in international European and Asian express delivery services Dominant position in German Mail market supports group cash flow generation Global No.1 integrated logistics provider Significant disposal ...
- Summary: Deutsche Post AG $175.00
The rating on Germany-based postal service provider Deutsche Post AG (DP) reflects the group's strong business risk profile, supported in particular by its cash-generative Mail business, its predominant position as a global integrated logistics ...
- Summary: Deutsche Post AG $175.00
The rating on Germany-based postal service provider Deutsche Post AG (DP) reflects the group's strong business risk profile, supported in particular by its cash-generative Mail business, its predominant position as a global integrated logistics ...
- Bulletin: Deutsche Post 'BBB+' Ratings Unaffected By Doubling Of Restructuring Charge At U.S. Express $100.00
LONDON (Standard&Poor's) Nov. 11, 2008--Standard&Poor's Ratings Services said today that its rating and outlook on Deutsche Post AG (DP; BBB+/Negative/A-2) remain unchanged following the Germany-based postal service provider's announcement ...
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LONDON (Standard&Poor's) Oct. 27, 2008--Standard&Poor's Ratings Services said today it revised its outlook on Germany-based postal service provider Deutsche Post AG (DP) to negative from stable following the group's cut in its profit outlook ...
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On Oct. 27, 2008, Standard&Poor's Ratings Services revised its outlook on Germany-based postal service provider Deutsche Post AG (DP) to negative from stable following the group's cut in its profit outlook for 2008 and, given market uncertainty, ...
- Bulletin: Deutsche Post 'BBB+' Rating Unchanged By Sale Of Minority Stake In Postbank To Deutsche Bank $100.00
LONDON (Standard&Poor's) Sept. 12, 2008--Standard&Poor's Ratings Services said today that its rating and outlook on Deutsche Post AG (DP; BBB+/Stable/A-2) remain unchanged following the Germany-based postal service provider's announcement earlier ...
- Deutsche Post AG $400.00
Competitive platform in Mail, Express, Logistics, and Financial Services Mail division has overall stable and significant cash flows for the foreseeable future Mail performance and cash flows provide protection for the group, giving it a solid ...
