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Bulletin: Li & Fung Ltd.'s Acquisitions Won't Affect Ratings
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
HONG KONG (Standard & Poor's) July 9, 2010--Standard & Poor's Ratings Services said today that the rating and outlook on Li & Fung Ltd. (A-/Stable/--) are unaffected by the company's announcement of seven deals, including three acquisitions with initial cash consideration totaling US$140 million. In our view, these new deals are consistent with the company's previously stated business strategy and they would likely help expand the company's revenue base and increase cash flows. 'In forming our view, we have taken into account the additional funding requirements for the announced acquisitions,' said Standard & Poor's credit analyst, Judy Kwok-Cheung. Over the next two to three years, the rating on Li & Fung would be most influenced by the speed at which...
Companies mentioned in this report are: Li & Fung Ltd.
Action: Bulletin
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