Related by context. Frequent words. (Click for all words.) 58 cyclical 56 cyclical nature 56 cyclical downturns 54 cyclicality 52 Negative Outlook reflects 52 cyclical downturn 51 macro headwinds 51 partially mitigated 50 cyclical upturn 49 cyclical upswing 48 pricing pressures 48 highly levered 47 recessionary pressures 47 inventory destocking 47 seasonality 46 Currency fluctuations 46 geographic diversification 45 headwinds 45 Downward pressure 45 TWST What 45 softness 44 macro economic 44 opg 44 payor mix 44 undiversified 44 volatility 44 Overcapacity 43 downturn 43 FY# #E [002] 43 factors 43 macroeconomic 43 #HFY# [001] 43 lumpiness 43 Negative Rating Outlook 43 Cyclical 42 industry 42 geographic concentration 42 YoverY 42 deterioration 42 Downside risks 42 seasonally weaker 42 affirmations reflect 42 highly leveraged 42 Partly offsetting 42 underperformance 42 recessionary trends 42 structural 42 profitability 42 slowdown 42 cash flows 42 somewhat mitigated 42 degrowth 42 geographical diversification 41 #H'# 41 diversification 41 auto ancillaries 41 adverse 41 fluctuations 41 geographically diversified 41 economic downturns 41 rating downgrades 41 dynamics 41 Rupee appreciation 41 recessionary 41 pressures 41 Unfavourable 41 cashflows 41 weakening 41 Stable Rating Outlook 40 FCF = 40 underlying 40 technological obsolescence 40 trends 40 Baa3 rating 40 leveraged 40 variability 40 valuation multiples 40 exerting downward 40 downcycle 40 derisking 40 cyclically 40 negatively impacted 40 exogenous shocks 40 noninvestment grade 40 Stable Outlook reflects 40 Baa2 rating 40 Ratio BCAR 40 overcapacity 40 global 40 de levering 40 mortality morbidity 40 seasonal fluctuations 39 growth 39 analyst Matthew Fassler 39 adversely impacted 39 Downturns 39 outlook 39 commoditisation 39 fluctuating 39 softening 39 divestures