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S&P Credit Research1329 word report
published Aug 27, 2009
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S&P Credit Research
| Abstract: | The ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC reflect the company's leading positions in its main markets and increased emphasis on higher-value-added products. These strengths are tempered, however, by the commodity-like features of the bulk of the company's sweetener, starch, and ethanol volume output, which results in some earnings volatility. The ratings are further constrained by a limited geographical diversity and the constant need for innovation to sustain an adequate proportion of value-added products, which requires high investment. Due to the industry's high rate of commoditization, Tate&Lyle's strategy has increasingly focused on widening its product portfolio of new higher value-added categories such as specialty starches, which generate stable margins and greater earnings
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Tate & Lyle PLC Publication date: 27-Aug-2009 Primary Credit Analyst: Diego Festa, London (44) 20-7176-3899; diego_festa@standardandpoors.com Secondary Credit Analyst: Anna Overton, London (44)...
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| Report Type: | Summary
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| Ticker: | TATE@LN
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| Issuer: | Tate&Lyle PLC
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| GICS: | Packaged Foods & Meats (30202030)
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| Sector: | Global Issuers
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| Country: | United Kingdom
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| Region: | Europe, Middle East, Africa
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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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- Tate&Lyle PLC $400.00
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- Tate&Lyle PLC L-T Ratings Lowered To 'BBB-' On High Financial Leverage; 'A-3' S-T Rating Affirmed; Outlook Negative $100.00
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On Feb. 9, 2008, Standard&Poor's Ratings Services lowered to 'BBB-' from 'BBB' its long-term corporate credit ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC and on guaranteed related entity Tate&Lyle International ...
- Summary: Tate&Lyle PLC $175.00
The ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC reflect the company's leading positions in its main markets and increased emphasis on higher-value-added products. These strengths are tempered, however, ...
- Tate&Lyle PLC $400.00
Increasing focus on higher-value-added categories Satisfactory mix of businesses Leading competitive position in the U.S. starch industry Constant need for innovation to sustain adequate proportion of value-added products Commodity nature of ...
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LONDON (Standard&Poor's) Aug. 12, 2008--Standard&Poor's Ratings Services said today it revised its outlook to negative from stable on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC. At the same time, Standard&Poor's ...
- Research Update: Tate&Lyle Outlook To Negative On Weakened Financial Metrics; 'BBB' Long-Term Rating Affirmed $175.00
On Aug. 12, 2008, Standard&Poor's Ratings Services revised its outlook to negative from stable on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC. At the same time, Standard&Poor's affirmed its 'BBB' long-term corporate ...
- Summary: Tate&Lyle PLC $175.00
The ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC reflect the company's leading positions in its main markets and growing focus on higher-value-added products. These strengths are tempered, however, by ...
