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Bulletin: RadioShack Corp. Ratings Unaffected By Announced Accelerated Share Repurchase Program
Standard & Poors, August 2010
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.
NEW YORK (Standard & Poor's) Aug. 24, 2010--Standard & Poor's Ratings Services said today that RadioShack Corp.'s (BB/Stable/--) announcement of a $300 million accelerated share repurchase program will not affect the company's ratings or outlook. The company had announced on Aug. 18, 2010, that the board of directors had increased the share repurchase program to $500 million from $290 million. Under the terms of the accelerated share repurchase agreements with Bank of America N.A. and Wells Fargo Bank N.A., RadioShack will pay an aggregate $300 million for the common stock shares and will receive about 11.7 million shares (likely to be about 70% of the total shares to be repurchased) and at the end of the valuation period, there will...
Companies mentioned in this report are: RadioShack Corp.