|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Japan Tobacco Rating Unaffected by Successful Bid for Turkish Firm
Standard & Poors
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
TOKYO (Standard & Poor's) Nov. 7, 2003--Standard & Poor's Ratings Services said today that the ratings on Japan Tobacco Inc. (JT: AA-/Stable/--) would not be affected by the company's successful bid for Turkey's state-owned tobacco company Tekel. On Nov. 6, 2003, JT announced that it had won the bid for Tekel at $1,150 million (-126 billion) and plans to purchase the company following a final decision by the Turkish government. Standard & Poor's has already incorporated JT's acquisition strategy into its assessment of the company and the impact of this acquisition plan and the bidding price on the ratings is limited. JT maintains a strong financial profile, with total debt to capital at 20% and liquidity at hand of more...
Companies mentioned in this report are: Japan Tobacco Inc.
Action: S&P Event
|
|
|
|
