A Scorecard of Key Performance Indicators of Cellular Operators in the Arab World
|
|
- Charlotte Daniel
- 8 years ago
- Views:
Transcription
1 A Scorecard of Key Performance Indicators of Cellular Operators in the Arab World Arab Advisors Group Strategic Research Service December 2014 Analyst: Mai Al-Zeir This report has been delivered to Client as part of the subscription to the Arab Advisors Group Strategic Research Service to be used exclusively by its employees
2 Copyright notice: Copyright 2014 by Arab Advisors Group. All rights reserved. No material contained in this report may be reproduced in whole or in part without the prior written permission of the publisher. Any unauthorized use, disclosure, copying, selling, distribution or in any way transfer of any direct or indirect information from this report which is the property of Arab Advisors Group, removing, erasing or hiding from view any copyright, trademark, confidentiality notice, mark or legend appearing on Arab Advisors Group products or any form of output is strictly prohibited, and will be under legal responsibility. The information contained in this report has been obtained from sources we believe to be reliable, but neither its completeness nor accuracy can be guaranteed. Opinions expressed are based on our interpretation of the available information, and are subject to change. Feedback: Our clients satisfaction is of our utmost concern. We welcome all feedback regarding our research and products. Please send us your notes on this report, what you found useful in it and future research directions that would help you in your business. Send feedback s to:
3 Table of Contents Section I : Executive Summary... 1 Section II : Overview... 2 Section III : General Comparisons... 4 Section IV : Cellular service operators... 7 Section V : Operators Financial Performance Section VI : Availability and Deployment of 3G/3.5G and LTE services... 41
4 List of Exhibits Exhibit 1: Cellular, Internet and Integrated Communication Providers (ICPs) by September Exhibit 2: Population of examined countries (2013, Q1 2014)... 4 Exhibit 3: Regional Estimated Nominal GDP per capita comparison (2013) 6 Exhibit 4: Cellular market status (September 2014)... 8 Exhibit 5: Total number of operators (August 2012 vs. September 2014)... 9 Exhibit 6: List of cellular operators understudy (September 2014) Exhibit 7: Ranking of cellular operators by lines (2013) Exhibit 8: Cellular lines per operator (March 2014) Exhibit 9: Ranking of cellular operators by lines (March 2014) Exhibit 10: Ranking of cellular operators by lines (2013) Exhibit 11: Cellular operators market shares (Q vs. 2013) Exhibit 12: Prepaid/postpaid subscriber mix per cellular operator (Q vs. 2013) Exhibit 13: Prepaid/postpaid lines ratio (Q vs. 2013) Exhibit 14: Ranking of countries by cellular lines (2013) Exhibit 15: Ranking of countries by cellular lines (Q1 2014) Exhibit 16: Cellular penetration rates (Q vs. 2013) Exhibit 17: Ranking of countries by cellular penetration (Q1 2014, 2013). 26 Exhibit 18: Cellular penetration/fixed line penetration ratio (2013) Exhibit 19: Cellular revenues per operator (Q vs. 2013) Exhibit 20: Percent of cellular revenues vs. percent of cellular lines (Q1 2014) Exhibit 21: Percent of cellular revenues vs. percent of cellular lines (2013) Exhibit 22: Monthly cellular ARPU (2013) Exhibit 23: Monthly cellular ARPU (Q1 2014) Exhibit 24: EBITDA margin comparison per operator (2013, Q1 2014) sorted by EBITDA Exhibit 25: EBITDA margin comparison per operator (2013, Q1 2014) sorted by EBITDA margin Exhibit 26: EBITDA margin comparison per group (consolidated results) (2013, Q1 2014) sorted by EBITDA Exhibit 27: EBITDA margin comparison per group (consolidated results) (2013, Q1 2014) sorted by EBITDA margin Exhibit 28: Net profit comparison per operator (2013, Q1 2014) sorted by net profit... 38
5 Exhibit 29: Net profit comparison per operator (2013, Q1 2014) sorted by net profit margin Exhibit 30: Net profit comparison per group (consolidated results) (2013, Q1 2014) sorted by net profit Exhibit 31: Net profit comparison per group (consolidated results) (2013, Q1 2014) sorted by net profit margin Exhibit 32: Operators and 3G/3.5G and LTE services availability in the Arab World (September 2014)... 42
6 This report has been delivered to clients as part of the subscription to the Arab Advisors Group Strategic Research Service to be used exclusively by its employees
Internet of Things IoT Services in the Arab World
Internet of Things IoT Services in the Arab World Arab Advisors Group Strategic Research Service December 2015 Analyst: Noor Al Asmar This report has been delivered to Client as part of the subscription
More informationA Survey of Internet Use and Online Advertising Consumption and Effectiveness in Egypt
A Survey of Internet Use and Online Advertising Consumption and Effectiveness in Egypt A Multi Client Project of Arab Advisors Group September 2009 Analyst: Noura Abdulhadi Arab Advisors Group A member
More informationA Survey of Internet Use and Online Advertising Consumption and Effectiveness in Saudi Arabia and the UAE
A Survey of Internet Use and Online Advertising Consumption and Effectiveness in Saudi Arabia and the UAE A Multi Client Project of Arab Advisors Group April 2009 Analyst: Noura Abdulhadi Arab Advisors
More informationResearch Update: Russia-Based HMS Hydraulic Machines & Systems Group Assigned 'BB-' Corporate Credit Rating; Outlook Stable.
June 16, 2011 Research Update: Russia-Based HMS Hydraulic Machines & Systems Group Assigned 'BB-' Corporate Credit Primary Credit Analyst: Antoine Cornu, Paris (33) 1-4420-6796;antoine_cornu@standardandpoors.com
More informationECCnet Item Certification Get Started Checklist. Version 2.0
ECCnet Item Certification Get Started Checklist Version 2.0 ECCnet Item Certification Get Started Checklist The information contained in this document is privileged and confidential and may otherwise be
More informationSample Customer Reports
M I C R O S F I D E L I O E U R O P E, A F R I C A A N D T H E M I D D L E E A S T Sample Customer Reports SAMPLE CUSTOMER REPORTS The reports depicted in this document may be provided to Micros-Fidelio
More informationwww.standardandpoors.com/ratingsdirect 1
December 9, 2009 Research Update: Spain Outlook Revised To Negative On Rising Fiscal Deficits And Risks Posed By Macroeconomic Adjustment Primary Credit Analyst: Trevor Cullinan, London (44) 20-7176-7110;trevor_cullinan@standardandpoors.com
More informationKeyware Technologies N.V- valuation highlights
Keyware Technologies N.V- valuation highlights This memorandum brings a short summary of Keyware Technologies N.V's (hereinafter 'Keyware' or the 'Company') valuation report as of December 31, 2014. This
More informationIncome Inequality And State Tax Revenue Trends
Income Inequality And State Tax Revenue Trends Gabe Petek, CFA Managing Director U.S. Public Finance August 2015 Permission to reprint or distribute any content from this presentation requires the prior
More informationHow To Rate Spain
April 28, 2010 Research Update: Spain Downgraded To 'AA' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative Primary Credit Analyst: Marko Mrsnik, Madrid +34 913 896 953;marko_mrsnik@standardandpoors.com
More informationResearch Update: Belgian Community of Flanders Outlook Revised To Negative After Same Action On Sovereign; 'AA+' Rating Affirmed.
December 15, 2010 Research Update: Belgian Community of Flanders Outlook Revised To Negative After Same Action On Sovereign; 'AA+' Rating Affirmed Primary Credit Analyst: Bertrand de Dianous, Paris (33)
More informationResearch Update: Klabin Ratings Raised To 'BB+' On Improving Financial Profile. Table Of Contents
December 8, 2010 Research Update: Klabin Ratings Raised To 'BB+' On Improving Financial Profile Primary Credit Analyst: Reginaldo Takara, Sao Paulo (55) 11 3039-9740;reginaldo_takara@standardandpoors.com
More informationA Financial Analysis of Energies and Gas Pipelines
Research Update: Interconexion Electrica S.A. E.S.P. (ISA) 'BBB' Credit Rating Affirmed, Outlook Remains Stable Primary Credit Analyst: Maria del Sol S Gonzalez, CFA, New York (1) 212-438-4443; maria.gonzalezcosio@standardandpoors.com
More informationGujarat State Petronet Ltd. INR 135
Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 India Equity Institutional Research Oil & Gas RESULT UPDATE Gujarat State Petronet Ltd. INR 135 Growth in volumes to propel earnings Accumulate Gujarat
More informationSubscription Administrator Guide. For GS1 Canada Services
For GS1 Canada Services The information contained in this document is privileged and confidential and may otherwise be exempt from disclosure under applicable law. It is intended solely for the entity
More informationConference Call on. Stefan Groß-Selbeck (CEO) August 13, 2009
Conference Call on HY1 09 Results Stefan Groß-Selbeck (CEO) & Ingo Chu (CFO) August 13, 2009 Dr. Stefan Groß-Selbeck As CEO, Stefan heads Corporate Strategy, HR and Corporate Communications. He is also
More informationResearch Update: Interconexión Eléctrica S.A. E.S.P. (ISA) Corporate Credit Rating Affirmed At 'BB+' For Plan To Acquire CINTRA Chile
February 3, 2010 Research Update: Interconexión Eléctrica S.A. E.S.P. (ISA) Corporate Credit Rating Affirmed At 'BB+' For Plan To Primary Credit Analyst: Monica Ponce, Mexico City (52) 55-5081-4454;monica_ponce@standardandpoors.com
More informationResidential Real Estate Company Deutsche Wohnen 'BBB+' Ratings Placed On CreditWatch Negative On Conwert Takeover Offer
Research Update: Residential Real Estate Company Deutsche Wohnen 'BBB+' Ratings Placed On CreditWatch Negative On Conwert Takeover Offer Primary Credit Analyst: Marie-Aude Vialle, London (44) 20-7176-3655;
More informationDominion Gas Holdings LLC
Summary: Dominion Gas Holdings LLC Primary Credit Analyst: Todd A Shipman, CFA, New York (1) 212-438-7676; todd.shipman@standardandpoors.com Secondary Contact: Dimitri Nikas, New York (1) 212-438-7807;
More informationProcess Server Central, LLC Trial Period License Agreement
Process Server Central, LLC Trial Period License Agreement The Process Server Central, LLC Restricted License ( Agreement ) is dated on the registration date ( Effective Date ) between Process Server Central,
More informationResearch Update: Empresa de Energia de Bogotá S.A. E.S.P. 'BB+' Corporate Credit Rating Affirmed; Outlook Remains Stable.
June 21, 2011 Research Update: Empresa de Energia de Bogotá S.A. E.S.P. 'BB+' Corporate Credit Rating Affirmed; Outlook Primary Credit Analyst: Carolina Duran, Mexico City 52-55-5081-4417;carolina_duran@standardandpoors.com
More information07/16/2014 ABOUT BOB THE TRADER
ABOUT BOB THE TRADER Bob The Trader is a mobile and desktop application that can be downloaded for free to any ios, Android, or Kindle Fire device and installed to most desktops. The application can also
More informationInvesting: Technical Analysis of Transmissora Aliança de Energia Elétrica S.D.
December 22, 2011 Research Update: Transmissora Aliança de Energia Elétrica S.A. Assigned 'BBB-' Corporate Credit Rating Based On Stable Cash Flows Primary Credit Analyst: Reginaldo Takara, Sao Paulo (55)
More informationLargest South African Non-Life Insurer, Santam Ltd., Assigned 'A-' Long-Term And 'zaaa' National Scale Ratings
Research Update: Largest South African Non-Life Insurer, Santam Ltd., Assigned 'A-' Long-Term And 'zaaa' National Scale Ratings Primary Credit Analyst: Neil Gosrani, London (44) 20-7176-7112; neil_gosrani@standardandpoors.com
More informationMIS Privacy Statement. Our Privacy Commitments
MIS Privacy Statement Our Privacy Commitments MIS Training Institute Holdings, Inc. (together "we") respect the privacy of every person who visits or registers with our websites ("you"), and are committed
More informationGraphite Electrodes. Imposition of antidumping duty augurs well. Sector Update. ICICI Securities Ltd Retail Equity Research.
Sector Update Rating matrix Target price Company Old New CMP Potential Upside HEG 225 275 238 19% Graphite India 85 15 91 18% Target period 12-15 months Price performance (%) Return % 1M 3M 6M 12M HEG
More informationFibria Celulose S.A. Upgraded To 'BB+ From 'BB' On Debt Reduction, Outlook Stable
Research Update: Fibria Celulose S.A. Upgraded To 'BB+ From 'BB' On Debt Reduction, Outlook Stable Primary Credit Analyst: Diego H Ocampo, Buenos Aires (54) 114-891-2124; diego_ocampo@standardandpoors.com
More informationResearch Update: Ratings On Russian Independent Gas Producer OAO NOVATEK Raised To 'BB+/ruAA+'; Outlook Stable
July 11, 2008 Research Update: Ratings On Russian Independent Gas Producer OAO NOVATEK Raised To 'BB+/ruAA+'; Outlook Stable Primary Credit Analyst: Elena Anankina, Moscow (7) 495-783-4130;elena_anankina@standardandpoors.com
More informationAvianca Holdings Outlook Revised To Stable From Positive, 'B+' Credit Rating Affirmed On Weaker Credit Metrics
Research Update: Avianca Holdings Outlook Revised To Stable From Positive, 'B+' Credit Rating Affirmed On Weaker Credit Metrics Primary Credit Analyst: Francisco Gutierrez, Mexico City (52) 55-5081-4407;
More informationNew York Life Insurance Co. 'AA+/A-1+' Rating Affirmed On Criteria Review; Outlook Stable
Research Update: New York Life Insurance Co. 'AA+/A-1+' Rating Affirmed On Criteria Review; Outlook Stable Primary Credit Analyst: Michael E Gross, San Francisco (1) 415-371-5003; michael.gross@standardandpoors.com
More informationResearch Update: PRI Pensionsgaranti Mutual Insurance Company Assigned 'A' Ratings; Outlook Stable. Table Of Contents
December 8, 2010 Research Update: PRI Pensionsgaranti Mutual Insurance Company Assigned 'A' Ratings; Outlook Stable Primary Credit Analyst: Anna Glennmar, Milan (39) 02-72111252;anna_glennmar@standardandpoors.com
More informationSpain-Based IT Service Provider Amadeus IT Holding Rating Raised To 'BBB/A-2' On Strong Financials, Outlook Stable
Research Update: Spain-Based IT Service Provider Amadeus IT Holding Rating Raised To 'BBB/A-2' On Strong Financials, Outlook Stable Primary Credit Analyst: Stefan Kirschner, Frankfurt (49) 69-33-999-281;
More informationSulAmérica. UBS Global Healthcare Services Conference February 11-13, 2008 New York
SulAmérica UBS Global Healthcare Services Conference February 11-13, 2008 New York Disclaimer The material that follows is a presentation of general background information about Sul América S.A. ( SulAmérica
More informationRating Research Services
Rating Research Services Media Release: Ratings On Taiwan Mobile Co. Ltd. Affirmed On Sustainable Market Position; Outlook Stable Primary Credit Analyst: Anne Kuo, CFA; (886) 2 8722-5829; anne.kuo@taiwanratings.com.tw
More informationSwedish Housing Company Willhem Affirmed At 'A-/A-2'; Outlook Stable
Research Update: Swedish Housing Company Willhem Affirmed At 'A-/A-2'; Outlook Stable Primary Credit Analyst: Carl Nyrerod, Stockholm (46) 8-440-5919; carl.nyrerod@standardandpoors.com Secondary Contact:
More informationResearch Update: ArcelorMittal 'BBB+' Ratings Placed On CreditWatch Negative On Weak Operating Results
April 29, 2009 Research Update: ArcelorMittal 'BBB+' Ratings Placed On CreditWatch Negative On Weak Operating Results Primary Credit Analyst: Alex Herbert, London (44) 20-7176-3616;alex_herbert@standardandpoors.com
More information1 st QUARTER 2015 EARNINGS RESULTS Fran Shammo Chief Financial Officer
VlpHU09DSUQyMDE1UTE= VlpHU09DSUQyMDE1UTE= 1 st QUARTER 2015 EARNINGS RESULTS Fran Shammo Chief Financial Officer April 21, 2015 Safe Harbor Statement NOTE: In this presentation we have made forward-looking
More informationGerman Utility RWE Downgraded To 'BBB-/A-3'; Outlook Negative
Research Update: German Utility RWE Downgraded To 'BBB-/A-3'; Outlook Negative Primary Credit Analyst: Vittoria Ferraris, Milan (39) 02-72111-207; vittoria.ferraris@spglobal.com Secondary Contact: Tobias
More informationMonitoring Nginx Server
Monitoring Nginx Server eg Enterprise v6 Restricted Rights Legend The information contained in this document is confidential and subject to change without notice. No part of this document may be reproduced
More informationLimited Immediate Benefit from SEBI-RBI Initiatives of Debt to Equity Conversion
Corporate Stress Limited Immediate Benefit from SEBI-RBI Initiatives of Debt to Equity Conversion Debt at 8x Market Capitalisation, Even Full Equity Conversion to Not Help Special Commentary Known Stress
More informationRESEARCH UPDATE. Global Ad Agency Publicis Groupe BBB+ Rating Still On CreditWatch Negative After Announcement Of Razorfish Acquisition.
RESEARCH UPDATE Global Ad Agency Publicis Groupe BBB+ Rating Still On CreditWatch Negative After Announcement Of Razorfish Acquisition Primary Credit Analysts: Raam Ratnam London (44) 207-176-7066 raam_ratnam@
More informationSales Management Compensation
Sales Management Compensation By Alex Rogers, CEO, CharTec LLC I believe that an effective Sales Manager needs to do exactly what the title says manage the sales force. Many times companies have sales
More informationWhite paper. Mobile broadband with HSPA and LTE capacity and cost aspects
White paper Mobile broadband with HSPA and LTE capacity and cost aspects Contents 3 Radio capacity of mobile broadband 7 The cost of mobile broadband capacity 10 Summary 11 Abbreviations The latest generation
More informationSukuk Liquidity Trends
PRACTICE ESSENTIALS SUKUK 21 GLOBAL Liquidity Trends CONTRIBUTOR Michele Leung Associate Director, Fixed Income Indices michele.leung@spdji.com While global sukuk issuance declined by 13% in 213, the liquidity
More informationResearch Update: Russian Steel Pipe Maker OAO TMK Outlook Revised To Negative; National Scale Rating Cut To 'rua'
March 2, 2009 Research Update: Russian Steel Pipe Maker OAO TMK Outlook Revised To Negative; National Scale Rating Cut Primary Credit Analyst: Andrey Nikolaev, CFA, Moscow (7) 495-783-4131;andrey_nikolaev@standardandpoors.com
More informationTurkey-Based Appliance Manufacturer Vestel Outlook Revised To Positive; 'B-' Rating Affirmed
Research Update: Turkey-Based Appliance Manufacturer Vestel Outlook Revised To Positive; 'B-' Rating Affirmed Primary Credit Analyst: Alexander Griaznov, Moscow (7) 495-783-4109; alexander.griaznov@standardandpoors.com
More informationConfiguring and Monitoring SharePoint Servers
Configuring and Monitoring SharePoint Servers eg Enterprise v5.6 Restricted Rights Legend The information contained in this document is confidential and subject to change without notice. No part of this
More informationStandard & Poor's Base-Case Scenario. Related Criteria And Research
Summary: Valeo S.A. Primary Credit Analyst: Vincent Gusdorf, CFA, Paris (33) 1-4420-6667; vincent.gusdorf@standardandpoors.com Secondary Contact: Barbara Castellano, Milan (39) 02-72111-253; barbara.castellano@standardandpoors.com
More informationCredit Mutuel Group Long-Term Rating Lowered To 'A' On France's Rising Banking Industry Risks; Outlook Stable
Research Update: Credit Mutuel Group Long-Term Rating Lowered To 'A' On France's Rising Banking Industry Risks; Outlook Stable Primary Credit Analyst: Francois Moneger, Paris (33) 1-4420-6688; francois.moneger@standardandpoors.com
More informationAN INSIDE LOOK AT S&P MILA 40
DID YOU KNOW? This article originally appeared in the Summer 2013 edition of INSIGHTS, a quarterly publication from S&P DJI, and summarizes key aspects of the S&P MILA 40 Index originally featured in Benchmarking
More informationTERMS AND CONDITIONS
TERMS AND CONDITIONS BFMVIP Website generic T&Cs 1 DVFX is a digital marketing agency with 100% and exclusive focus on email marketing. We have significant experience in building and deploying B2C and
More informationIntroduction. Here's What You Need To Know In Under 2 Minutes
Welcome to Options Trading Wire! Introduction If you're reading this, you've taken a big step towards becoming a successful options trader. You see, by subscribing to this service, you're getting world-class,
More informationFour Ratings Raised From GreatAmerica Leasing Receivables Funding L.L.C.; 10 Ratings Affirmed
Four s Raised From GreatAmerica Leasing Receivables Funding L.L.C.; 10 s Affirmed Primary Credit Analyst: Srabani C Chandra-Lal, New York (1) 212-438-5036; srabani.chandra-lal@standardandpoors.com Secondary
More informationTri-Township Consolidated School Building Corp., Indiana Tri-Township Consolidate School Corp.; School State Program
Summary: Tri-Township Consolidated School Building Corp., Indiana Tri-Township Consolidate School Corp.; School State Program Primary Credit Analyst: Ryan Schultz, Chicago (1) 312-233-7066; ryan.schultz@standardandpoors.com
More informationTelecom Market Indicators Report: Q1, 2012 (January 2012 March 2012)
Telecom Market Indicators Report: Q1, 2012 (January 2012 March 2012) Market Research & Planning Economic Affairs Unit Telecom Market Indicators Report Q1, 2012 Page 1 Table of Contents Page Introduction
More informationAEG Power Solutions Downgraded To 'CCC+' On Weak Earnings And Delays In Customer Payments; Outlook Negative
Research Update: AEG Power Solutions Downgraded To 'CCC+' On Weak Earnings And Delays In Customer Payments; Outlook Negative Primary Credit Analyst: Abigail Klimovich, CFA, London (44) 20-7176-3554; abigail_klimovich@standardandpoors.com
More informationAnalyst and investor briefing Q4 13
Analyst and investor briefing Q4 13 Further growth of Polsat Group revenue in Q4 13 by 7% to PLN 805m, mainly thanks to: - organic growth of the retail business segment, which achieved a 5% YoY revenue
More informationDuke Energy International Geracao Paranapanema 'BBB-' Global And 'braaa' National Scale Ratings Affirmed
Research Update: Duke Energy International Geracao Paranapanema 'BBB-' Global And 'braaa' National Scale Ratings Affirmed Primary Credit Analyst: Sergio Fuentes, Buenos Aires (54) 114-891-2131; sergio.fuentes@standardandpoors.com
More informationCore Entities Of German Insurance Group W&W Affirmed At 'A-' On Improved Enterprise Risk Management; Outlook Stable
Research Update: Core Entities Of German Insurance Group W&W Affirmed At 'A-' On Improved Enterprise Risk Primary Credit Analysts: Silke Longoni, Frankfurt (49) 69-33-999-195; silke.longoni@standardandpoors.com
More informationMolibdenos y Metales 'BBB-' Rating Affirmed On Improving Leverage, Outlook Still Stable
Research Update: Molibdenos y Metales 'BBB-' Rating Affirmed On Improving Leverage, Outlook Still Stable Primary Credit Analyst: Diego H Ocampo, Buenos Aires (54) 114-891-2124; diego.ocampo@standardandpoors.com
More informationCompanhia Energetica de Minas Gerais Upgraded To 'BB+' From 'BB' On Stronger Business Risk Profile, Outlook Stable
Research Update: Companhia Energetica de Minas Gerais Upgraded To 'BB+' From 'BB' On Stronger Business Risk Profile, Outlook Stable Primary Credit Analyst: Alejandro Gomez Abente, Sao Paulo (55) 11-3039-9741;
More informationRising cost of health care and creditworthiness in the G-20 sovereigns
Finance and health: Worldwide trends Rising cost of health care and creditworthiness in the G-20 sovereigns Nuffield Trust - Health Policy Summit 2013 Marko Mršnik, Director Sovereign Ratings Europe Wotton
More informationMethodology: Business Risk/Financial Risk Matrix Expanded
Criteria Corporates General: Methodology: Business Risk/Financial Risk Matrix Expanded Criteria Officer: Mark Puccia, Managing Director, New York (1) 212-438-7233; mark.puccia@standardandpoors.com Table
More informationBelgium-Based Insurance Group Ageas Upgraded To 'A' On Strengthened Financial Risk Profile; Outlook Stable
Research Update: Belgium-Based Insurance Group Ageas Upgraded To 'A' On Strengthened Financial Risk Profile; Primary Credit Analyst: Merryleas J Rousseau, Paris (33) 1-4420-6729; merryleas.rousseau@standardandpoors.com
More informationSelective Insurance Group Inc. And Operating Companies Ratings Affirmed; Outlook Revised To Negative
Research Update: Selective Insurance Group Inc. And Operating Companies Ratings Affirmed; Outlook Revised To Primary Credit Analyst: David S Veno, New York (1) 212-438-2108; david_veno@standardandpoors.com
More informationGuardian Life Insurance, Core Operating Subsidiaries 'AA+' Ratings Affirmed On Criteria Review, Outlook Negative
Research Update: Guardian Life Insurance, Core Operating Subsidiaries 'AA+' Ratings Affirmed On Criteria Review, Outlook Negative Primary Credit Analyst: Neal I Freedman, New York (1) 212-438-1274; neal.freedman@standardandpoors.com
More informationIndustry Top Trends 2016 Healthcare
CORPORATE INDUSTRY CREDIT RESEARCH December 9, 215 Industry Top Trends 216 U.S. HEALTHCARE REFORM IS DRIVING A CHANGING LANDSCAPE Credit Analysts David Peknay New York +1 212 438-7852 david.peknay@ standardandpoors.com
More informationCopyright 2013 wolfssl Inc. All rights reserved. 2
- - Copyright 2013 wolfssl Inc. All rights reserved. 2 Copyright 2013 wolfssl Inc. All rights reserved. 2 Copyright 2013 wolfssl Inc. All rights reserved. 3 Copyright 2013 wolfssl Inc. All rights reserved.
More informationProgress Report: Integrating Enterprise Risk Management Analysis Into Corporate Credit Ratings
July 22, 2009 Progress Report: Integrating Enterprise Risk Management Analysis Into Corporate Credit Ratings Corporate & Gov't Ratings: Steven J Dreyer, Managing Director, New York (1) 212-438-7187; steven_dreyer@standardandpoors.com
More informationResearch Update: Danish Mortgage Bank DLR Kredit A/S Assigned 'BBB+/A-2' Ratings. Table Of Contents
May 31, 2012 Research Update: Danish Mortgage Bank DLR Kredit A/S Assigned 'BBB+/A-2' Ratings Primary Credit Analyst: Per Tornqvist, Stockholm (46) 8-440-5904;per_tornqvist@standardandpoors.com Secondary
More informationU.K. Broadcaster ITV Upgraded To 'BBB-/A-3' On Expected Solid Credit Metrics, Moderate Financial Policy; Outlook Stable
Research Update: U.K. Broadcaster ITV Upgraded To 'BBB-/A-3' On Expected Solid Credit Metrics, Moderate Financial Policy; Outlook Stable Primary Credit Analyst: Patrizia D'Amico, Milan (39) 02-72111-206;
More informationConstellium Holdco B.V. Recovery Rating Profile
Recovery Report: Constellium Holdco B.V. Recovery Rating Profile Recovery Analyst: Franck Rizzoli, London (44) 20-7176-3934; Franck_Rizzoli@standardandpoors.com Primary Credit Analyst: Tatjana Lescova,
More informationResearch Update: Bermuda Long-Term Sovereign Rating Lowered To 'AA-' On Revised Rating Methodology; Outlook Stable.
December 29, 2011 Research Update: Bermuda Long-Term Sovereign Rating Lowered To 'AA-' On Revised Rating Methodology; Primary Credit Analyst: Nikola G Swann, Toronto (1) 416-507-2582;nikola_swann@standardandpoors.com
More informationwww.standardandpoors.com/ratingsdirect 1
November 17, 2009 Research Update: Energie Oberoesterreich 'A' Rating Affirmed Despite Lower Stand-Alone Credit Profile; Off Watch, Outlook Negative Primary Credit Analyst: Monica Mariani, Milan (39) 02
More informationThe solution for rural mobile networks
The solution for rural mobile networks http://fairwaves.co Introduction Fairwaves provide a turnkey solution for rural mobile networks, with benefits that include: Return on investment in as little as
More informationHong Kong - Telecoms, Mobile, Broadband and Forecasts
Brochure More information from http://www.researchandmarkets.com/reports/1226790/ Hong Kong - Telecoms, Mobile, Broadband and Forecasts Description: This report covers the sophisticated Hong Kong telecommunications
More informationOperating Leases: Implications for Lessees Credit. Overview and Conclusions
Special Report Overview and Conclusions Operating leases are widely used by businesses to gain control of assets, such as real estate or equipment, for a fixed duration less than the full economic life
More informationLong Run Economic Growth Agenda. Long-run Economic Growth. Long-run Growth Model. Long-run Economic Growth. Determinants of Long-run Growth
Long Run Economic Growth Agenda Long-run economic growth. Determinants of long-run growth. Production functions. Long-run Economic Growth Output is measured by real GDP per capita. This measures our (material)
More informationSOFTWARE LICENSE AGREEMENT
SOFTWARE LICENSE AGREEMENT This Software License Agreement (the "Agreement") is a legal agreement between you (either an individual or a legal entity) (the "Licensee") and IMC B.V. located at Zwolleweg
More informationSummary: Svenska Cellulosa Aktiebolaget SCA. Table Of Contents. Rationale Outlook Related Criteria And Research. May 28, 2012
May 28, 2012 Summary: Svenska Cellulosa Aktiebolaget SCA Primary Credit Analyst: Gustav Liedgren, Stockholm (46) 8-440-5916; gustav_liedgren@standardandpoors.com Secondary Contact: Dionisio Luiz, London
More informationINTANGIBLE VALUE PROVIDED
Place you r m essag e h ere. Fo r m axim um i mpact, use two or t hre e se ntenc es. 31-103 (CRM2) GETTING YOU LEGISLATION-READY ADVISOR PRACTICE EVALUATION FORM INTANGIBLE VALUE PROVIDED CONCRETE SERVICES
More informationSwedbank Outlook Revised To Stable From Negative On Improved Business Position; Ratings Affirmed At 'A+/A-1'
Research Update: Swedbank Outlook Revised To Stable From Negative On Improved Business Position; Ratings Primary Credit Analyst: Alexander Ekbom, Stockholm (46) 8-440-5911; alexander.ekbom@standardandpoors.com
More informationInteractive Brokers LLC
Summary: Interactive Brokers LLC Primary Credit Analyst: Clayton D Montgomery, New York (1) 212-438-5079; clayton.montgomery@standardandpoors.com Secondary Contact: Robert B Hoban, New York (1) 212-438-7385;
More informationAgile@CA Development Process. Simon Cockayne Misc Track
Agile@CA Development Process Simon Cockayne Misc Track FOR INFORMATION PURPOSES ONLY Terms of this presentation This presentation was based on current information and resource allocations as of April 2013
More informationCommodities. Precious metals as an asset class. April 2011. What qualifies as an asset class? What makes commodities an asset class?
Commodities Precious metals as an asset class April 2011 What qualifies as an asset class? Broadly speaking, an asset class is simply a grouping of assets that possess similar characteristics. Defining
More informationBDI BioEnergy Intern. 20.0 Neutral. Activity level in Q3 might not support FY estimates
8/11/1 8/1/11 8/3/11 8/5/11 8/7/11 8/9/11 8/11/11 8/1/12 8/3/12 8/5/12 8/7/12 8/9/12 MATELAN Research Preview Note Price as of 9/11/12: 8.69 12 November 212 Company / Sector Fair Value Recommendation BDI
More informationPASSPORT USER GUIDE. This guide provides a detailed overview of how to use Passport, allowing you to find the information you need more efficiently.
PASSPORT USER GUIDE Euromonitor International s Passport is an integrated online database, providing business intelligence on industries, economies and consumers. Its simple-to-use interface makes it easy
More informationSoftware Hosting and End-User License Subscription Agreement
Software Hosting and End-User License Subscription Agreement (Last Updated October 31, 2015) IMPORTANT! The Contrail software (the "SOFTWARE") that you seek to use was developed by OneRain Incorporated
More informationSouth Padre Island, Texas; General Obligation
Summary: South Padre Island, Texas; General Obligation Primary Credit Analyst: Jim Tchou, New York (1) 212-438-3821; jim.tchou@standardandpoors.com Secondary Contact: Sarah L Smaardyk, Dallas (1) 214-871-1428;
More informationRatings On Various Royal Bank of Scotland Group Hybrid Securities Lowered
March 24, 2009 Ratings On Various Royal Bank of Scotland Group Hybrid Securities Lowered Primary Credit Analyst: Nigel Greenwood, London (44) 20-7176-7211; nigel_greenwood@standardandpoors.com Secondary
More informationCA Cloud Service Delivery Platform
CA Cloud Service Delivery Platform Business Relationship Manager Version 01.0.00 This Documentation, which includes embedded help systems and electronically distributed materials, (hereinafter referred
More informationBusiness Intelligence Market Trends Study
Use, duplication, or sale of this information, or data contained herein, is strictly prohibited. Copyright 2005 Gantry Group LLC, SourceMedia, Inc. All rights reserved. Business Intelligence Market Trends
More informationCA Cloud Service Delivery Platform
CA Cloud Service Delivery Platform Customer Onboarding Version 01.0.00 This Documentation, which includes embedded help systems and electronically distributed materials, (hereinafter referred to as the
More informationGlobal Mobile Advertising Revenue 2014 The State of Mobile Advertising Around the World
Information Analytics Expertise BRUSSELS, LONDON & NEW YORK 13 AUGUST 2015 Global Mobile Advertising Revenue 2014 The State of Mobile Advertising Around the World Daniel Knapp, Director Advertising Research
More informationOracle s BigMachines Solutions. Cloud-Based Configuration, Pricing, and Quoting Solutions for Enterprises and Fast-Growing Midsize Companies
Oracle s BigMachines Solutions Cloud-Based Configuration, Pricing, and Quoting Solutions for Enterprises and Fast-Growing Midsize Companies Oracle s BigMachines cloud-based solutions enable both enterprise
More informationMultimedia Contact Center YUPIQ Integration. Product Brief
Multimedia Contact Center YUPIQ Integration Product Brief March 29, 2012 YUPIQ SOCIAL MEDIA The information contained in this document is believed to be accurate in all respects but is not warranted by
More informationXING Q2 2012 results presentation. August 14, 2012
XING Q2 2012 results presentation August 14, 2012 Disclaimer This presentation was produced in August 2012 by XING AG (the "Company") solely for use as an information source for potential business partners
More informationBusiness Development Bank of Canada 'AAA' Rating Affirmed On Continuing Federal Government Support
Research Update: Business Development Bank of Canada 'AAA' Rating Affirmed On Continuing Federal Government Support Primary Credit Analyst: Bhavini Patel, CFA, Toronto (1) 416-507-2558; bhavini.patel@standardandpoors.com
More information4 th Quarter 2011 Earnings Results
4 th Quarter 2011 Earnings Results Fran Shammo Chief Financial Officer January 24, 2012 Safe Harbor Statement NOTE: This presentation contains statements about expected future events and financial results
More information