Germany-Based ThyssenKrupp Ratings Lowered To 'BB+/B' On Heavy Losses, Weak Prospects; Outlook Stable
- ID: 1711605
- November 2009
- Standard & Poors
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Research type: News
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We anticipate that ThyssenKrupp will show weak credit metrics for the next two years. This view reflects the sharp downturn in steel and other industrial sectors, coupled with ThyssenKrupp's high capital expenditures. We are lowering our long- and short-term ratings on ThyssenKrupp to 'BB+/B' from 'BBB-/A-3'. The stable outlook reflects our opinion that ThyssenKrupp's financial risk profile will stabilize. LONDON (Standard & Poor's) Nov. 17, 2009--Standard & Poor's Ratings Services said today that it lowered its long- and short-term corporate credit ratings on Germany-based industrial conglomerate ThyssenKrupp AG to 'BB+/B' from 'BBB-/A-3'. At the same time, both the long- and short-term ratings were removed from CreditWatch, where they had been placed with negative implications on March 20, 2009, and on...
Companies mentioned in this report are: ThyssenKrupp AG
Action: Outlook: Stable
Action: Removed From CreditWatch