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Bulletin: Caterpillar Inc. Ratings And Outlook Unaffected By First-Quarter 2011 Earnings Announcement
Standard & Poors, April 2011
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
NEW YORK (Standard & Poor's) April 29, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on Caterpillar Inc. (A/Stable/A-1) are unaffected by the company's first-quarter earnings announcement in which the company stated it believes it will have sufficient cash available to minimize or eliminate the need for new equity to complete its planned acquisition of Bucyrus International Inc. (BB+/CW Positive/--). When the transaction was initially announced, Caterpillar had indicated that it could use up to $2 billion of new equity to fund the $8.6 billion transaction (including net debt acquired). Its first-quarter operating results were strong, with reported machinery and power system sales up 63% from the prior year and solid cash flow generation increasing cash...
Companies mentioned in this report are: Caterpillar Inc.,Bucyrus International Inc.
Action: Bulletin
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