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Alliance One International Inc. Downgraded To 'B' On Weaker Industry Trends; Outlook Negative
Standard & Poors, May 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
We believe U.S.-based Alliance One International's operating performance could weaken further over the next year due to difficult industry conditions. We are lowering our corporate credit rating to 'B' from 'B+' and lowering our existing debt issue ratings by one notch. The negative outlook is based on our expectation that weaker operating performance could result in further erosion in key credit measures. NEW YORK (Standard & Poor's) May 9, 2011--Standard & Poor's Ratings Services said today it lowered its rating on Morrisville, N.C.-based Alliance One International (AOI) to 'B' from 'B+'. In addition, we lowered our issue-level ratings on the company, including the senior secured debt rating to 'BB-' from 'BB' (two notches higher than the 'B' corporate credit rating);...
Companies mentioned in this report are: Alliance One International Inc.
Action: Downgraded
Action: Outlook: Negative
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