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Bulletin: Ratings On Toshiba Unaffected By Acquisition Of Landis+Gyr May 11
Standard & Poors, May 2011
Abstract
TOKYO (Standard & Poor's) May 19, 2011--Standard & Poor's Ratings Services said today its ratings on Toshiba Corp. (BBB/Stable/A-2) are unaffected by the company's announcement that it will acquire Switzerland-based company Landis+Gyr AG (NR), a leading smart grid-related company, for -190 billion. While details remain unclear, such as any partners in the deal and how it will be funded, Standard & Poor's believes the deal will make a relatively stable contribution to Toshiba's earnings in the medium to long term. We do not expect the acquisition to significantly increase Toshiba's financial burden. Landis+Gyr is the global leader in the production and sale of 'smart' next-generation meters, the core component that enables smart grids to supply electricity efficiently. The company operates...
Companies mentioned in this report are: Toshiba Corp.
Action: Bulletin
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.
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