CHICAGO--(BUSINESS WIRE)--Fitch Ratings has published a new report on the key peer comparator elements for tobacco companies.
The sector risk profile defines and groups companies operating in the sector into a 'natural rating territory' based on Fitch's view of the inherent risk profile of the industry. Each company's overall risk profile generally does not stray too far from this rating range.
After assessing the operating environment, then management and corporate governance, the Navigator examines four sector-specific business profile factors for given rating levels. Sector-specific key factors include business risk, brand portfolio, competitive position and diversification. Finally, three financial profile factors including; financial structure, profitability, and financial flexibility, help capture financial attributes commensurate with particular rating categories.
The report, titled Tobacco Companies: Ratings Navigator Companion' is available at www.fitchratings.com or by clicking the link below. This report should be read in conjunction with the 'Introducing Rating Navigators for Corporates' report dated Nov. 5, 2014.
For more information, please visit corporatesshowcase.fitchratings.com/navigator.htm.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
--'Tobacco Companies: Ratings Navigator Companion' (February 2015);
--'Tobacco Companies: Ratings Navigator Reference File' (February 2015).
Applicable Criteria and Related Research: Tobacco: Ratings Navigator Companion