| Title: | Rheinmetall AG |
| Price: | $400.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | Full Report |
| Abstract: | Sound market positions in automotive and land-force equipment Healthy order backlog in the defense division, including projects extending over several years Moderate product and geographic diversity Independent development of two divisions adds to diversification Exposure to the cyclical automotive market, including strong bargaining power of OEMs Exposure to raw-material price fluctuations Modest product line in automotive components Significant unfunded pension obligations with debt-like characteristics and considerable payments to retirees relative to FOCF Weak free cash flow generation The ratings on Germany-based auto supplier and defense group Rheinmetall AG reflect the company's sound market position in the automotive supplier industry with a diverse number of high-end products. The defense division benefits from long cyclical trend patterns combined with a solid order |
| Brief Excerpt: | RESEARCH Ratings Definitions Rheinmetall AG Publication date: ##-Apr-#### Primary Credit Analyst: Werner Staeblein, Frankfurt (##) ##-##-###-###; werner_staeblein@standardandpoors.com Secondary Credit Analyst: Maria Bissinger, Frankfurt... |
| Word Count: | 5364 |
| Ticker: | RHM@GR |
| Issuer: | Rheinmetall AG |
| GICS: | Industrial Conglomerates (20105010) |
| Sector: | Global Issuers, Structured Finance, Financial Institutions, Corporations, Asset-Backed Securities, Collateralized Debt Obligations, Automotive, High Technology, Capital Goods |
| Country: | Germany |
| Region: | Europe, Middle East, Africa |
| Format: | 
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