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 30, 2017
8 pages (2453 words) — Published May 30, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Well-established market position as a leading engine manufacturer for wide-body aircraft. Sizable order book in civil aerospace, equivalent to about 10 years of production. Long-term revenues and profits from aftermarket servicing, maintenance, and spare parts activities. Less resilient profitability and a less flexible cost base, reflected in lower EBITDA margins. Mixed outlook for the business segments, with revenues supported by higher civil engine deliveries, while prospects for the marine segment remain subdued. Weak cash flow generation, with slightly negative free operating cash flow (FOCF) likely in 2017. Slightly weak leverage metrics forecast for 2018 of 40%-45% for funds from operations (FFO) to adjusted debt and around 2.0x for adjusted debt to EBITDA. Supportive financial policy framework, evident from steps taken

  
Brief Excerpt:

...Mixed outlook for the business segments, with revenues supported by higher civil engine deliveries, while prospects for the marine segment remain subdued....

  
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 30, 2017. Alacra Store. Nov 14, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Rolls-Royce-PLC-1858122>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Rolls-Royce PLC May 30, 2017. New York, NY: Alacra Store. Retrieved Nov 14, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Rolls-Royce-PLC-1858122>
  
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