Tags: Fitch | US | Companies | Unhurt | EU | Crisis

Fitch: US Companies Relatively Unhurt By EU Crisis

Thursday, 15 Jul 2010 02:45 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The euro's slide in value against the U.S. dollar this year will have a "relatively minor" impact on U.S. companies with earnings tied heavily to European economies, Fitch Ratings said in a report.

That includes iconic U.S. companies such as Coca-Cola Co., McDonald's Corp., Pfizer Inc. and Hewlett-Packard Co.

Fitch said U.S. companies should be more concerned with "collateral damage" from the expanding debt crisis there and heightened credit concerns. The agency thinks that fiscal conservativeness might squash growth.

Also, if the euro stays weak it could further hurt U.S. companies' earnings and sales, and damage their ability to compete globally. But companies such as McDonald's that have designed programs to hedge their currency losses should be able to offset the losses, Fitch said.


© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved