Leading market position with an extensive branch network in the U.S. and Canada; Good operating efficiency; and Moderate working-capital intensity and very limited fixed-capital intensity. Exposure to cyclical end-markets with intense pricing competition; Relatively high operating leverage, leading to swings in earnings over the business cycle; and Aggressive financial policies. Standard and Poor's Ratings Services' rating on Pittsburgh, Pa.-based WESCO International Inc. (WESCO) and its subsidiary, WESCO Distribution Inc., reflect our expectation that the company will experience a modest improvement in operating performance through the remainder of 2010 and a more-robust recovery in 2011. In the absence of any debt-financed acquisitions and amid improving market conditions, we expect WESCO's key credit metrics to improve along with its profitability. We view
