BESGBuilt Environment Support Group (South Africa)
BESGBritish Embassy Study Group (est. 1959; Ankara, Turkey)
BESGBusiness and Entrepreneurial Services Group
Copyright 1988-2018, All rights reserved.
References in periodicals archive ?
BESG has been designated to provide sanitation services to key areas and high-profile landmarks in Beijing.
Fast-Growing Integrated Player: BESG is an integrated waste-management service provider operating in both the front-end services of street sweeping, waste collection and transfer, and the back-end operation of waste-treatment facilities.
Dominant Market Share in Beijing: BESG is the largest waste-management service provider in Beijing.
Revenue from the sanitation service BESG is designated to provide in Beijing's key districts, which is not subject to competition, was considerable at about CNY1.7 billion-1.8 billion annually in 2015-2017.
Higher Vehicle Sales: BESG is a leading sanitation-vehicle manufacturer in Beijing despite a low market share nationwide.
High Near-Term Capex: BESG's capex rose quickly in the past two years from CNY109 million in 2015 to CNY2,322 million in 2017 due to its expansion.
Standalone Profile at 'BB+': We forecast BESG's FFO adjusted net leverage will average around 3.0x-3.5x in 2018-2020 and its FFO fixed-charge coverage will be close to 6.0x.
BESG's rating of 'BBB+' is linked to, but not equalised with, Fitch's internal assessment of the creditworthiness of Beijing municipality, as per the agency's GRE criteria.
The incentives for the government to support BESG, assessed on the socio-political impact and financial implications of a potential default, are generally lower than for provincial energy SOEs like Beijing Energy Holding Co., Ltd.
BESG's standalone credit profile of 'BB+' is lower than its peers in the US such as Republic Services and Waste Connection.