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Bulletin: ThyssenKrupp Ratings Unaffected By Arcelor-Mittal's Expected Retention Of Dofasco
Standard & Poors, Nov 2006
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.
Abstract
LONDON (Standard & Poor's) Nov. 13, 2006--Standard & Poor's Ratings Services said today that its ratings and outlook on Germany-based industrial conglomerate ThyssenKrupp AG (TK; BBB-/Stable/A-3) are unchanged after global steel group Arcelor-Mittal (Netherlands-based Mittal Steel Co. N.V. {BBB/Stable/--} and Luxembourg-based Arcelor S.A. {BBB/Stable/A-2}) announced that the Dutch foundation that holds the shares of Canada-based steelmaker Dofasco Inc. (BBB/Stable/--) would not be dissolved, which would have allowed the sale of Dofasco to TK to take place. The German group had agreed to buy Dofasco for a cash payment of about -4.5 billion (including debt) from Mittal, should Mittal succeed in buying Arcelor. The foundation decision now appears to make this outcome very unlikely, however. The absence of rating implications reflects...
Companies mentioned in this report are: ThyssenKrupp AG
Action: Bulletin
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