Summary: Rolls-Royce PLC - S&P Global Ratings’ Credit Research

Summary: Rolls-Royce PLC

Summary: Rolls-Royce PLC - S&P Global Ratings’ Credit Research
Summary: Rolls-Royce PLC
Published May 08, 2015
8 pages (2592 words) — Published May 08, 2015
Price US$ 225.00  |  Buy this Report Now

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Abstract:

Leading position in the civil and defense aircraft engine industries. Substantial order backlog equivalent to about five years of revenues. Revenues from recurring engine servicing activities, which offset the effects of more cyclical engine sales. Highly competitive and cyclical nature of end-markets. Weaker defense spending and industrial demand and cost pressures weighing on profit margins. Healthy credit metrics to continue, but we expect higher adjusted debt to reduce ratings headroom. Continued supportive financial policy framework. High spending on research and development (R&D) and capital expenditure (capex). Limited free operating cash flow (FOCF). Share buy-back program of £1 billion underway to pay disposal proceeds to shareholders. The stable outlook reflects Standard&Poor's Ratings Services' view that U.K.-based global aerospace and

  
Brief Excerpt:

...Revenues from recurring engine servicing activities, which offset the effects of more cyclical engine sales....

  
Report Type:

Summary

Ticker
RR/@LN
Issuer
GICS
Aerospace & Defense (20101010)
Sector
Global Issuers, Structured Finance
Country
Region
Latin America
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Rolls-Royce PLC" May 08, 2015. Alacra Store. Nov 14, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Rolls-Royce-PLC-1397821>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Rolls-Royce PLC May 08, 2015. New York, NY: Alacra Store. Retrieved Nov 14, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Rolls-Royce-PLC-1397821>
  
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