The heavy industrial machinery and equipment (M&E) sector is going through a transition from a product-led operating model to customer-centric solutions enabled by advanced computerized systems and data analytics. While digitalization has been a strategic focus in the last decade, it has now entered rapid progression after the Coronavirus Disease (COVID-19) pandemic. The manufacturers are not only making smart, sophisticated products but are applying advanced machine intelligence to create value...
On April 25, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Senior Debentures and Medium-Term Notes rating of Finning International Inc. (Finning or the Company) at BBB (high), and the Company's Commercial Paper rating at R-2 (high). All trends are Stable. The confirmations reflect Finning's robust business and financial risk profiles, which remain commensurate with the current ratings. While the global economic outlook is poised to soften further in the near term, and cou...
Welcome to 2023: this is the year that is unlikely to be feared by capital goods dealers thanks to energy transition and, in part, to a lingering pandemic aftermath. Overall, DBRS Morningstar's outlook for capital goods dealership issuers is neutral. Despite the strong order backlog, there are many moving variables that are at play and need to be monitored closely. While we anticipate challenging times ahead in the context of a projected macroeconomic slowdown, 2023 presents a unique opportunity...
On August 10, 2020, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Senior Debentures and Medium-Term Notes rating of Finning International Inc. (Finning or the Company) at BBB (high) and the Company's Commercial Paper rating at R-2 (high), both with Stable trends. Finning's operating results and key credit metrics weakened in H1 2020 because of a sharp deterioration in the conditions in all of its sales regions caused by lockdowns to control the spread of the Coronavirus Disease...
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