Review of Euro Corporate Post-Retirement Liabilities Leads to 10 CreditWatch Negative Listings Feb 03
Standard & Poors, February 2003
Abstract
(Editor's note: This media release, published earlier today, has been republished to provide the list of ratings affected by the CreditWatch action, as well as the teleconference details, which failed to appear in the original text. The added information now appears toward the end of article.) PARIS (Standard & Poor's) Feb. 7, 2003--Standard & Poor's Ratings Services said today that it had placed its long-term and some short-term credit ratings on 10 European corporates on CreditWatch with negative implications (see list below) following a ground-breaking review of unfunded post-retirement liabilities at more than 500 rated European companies. The review represents the most comprehensive credit analysis to date on the implications of unfunded post-retirement liabilities at leading European companies, and is...
Companies mentioned in this report are:
- Arcelor S.A.
- J Sainsbury PLC
- BAE Systems PLC
- PostNL N.V.
- Portugal Telecom SGPS S.A.
- Rolls-Royce PLC
- Linde AG
- GKN Holdings PLC
- Compagnie Generale des Etablissements Michelin S.C.A.
- Compagnie Financiere Michelin S.C.A.
- ThyssenKrupp AG
- Pilkington PLC
- Deutsche Post AG
- Deutsche Postbank AG
Action: Downgraded, On CreditWatch Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Arcelor S.A.
- J Sainsbury PLC
- BAE Systems PLC
- PostNL N.V.
- Portugal Telecom SGPS S.A.
- Rolls-Royce PLC
- Linde AG
- GKN Holdings PLC
- Compagnie Generale des Etablissements Michelin S.C.A.
- Compagnie Financiere Michelin S.C.A.
- ThyssenKrupp AG
- Pilkington PLC
- Deutsche Post AG
- Deutsche Postbank AG
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