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Bulletin: Delphi Automotive LLP Rating Not Affected By IPO Filing May 11
Standard & Poors, May 2011
Abstract
NEW YORK (Standard & Poor's) May 27, 2011--Standard & Poor's Ratings Services said today that its ratings on auto supplier Delphi Automotive LLC (BB/Stable/--) are not immediately affected by the filing from Delphi Automotive PLC for an initial public offering of stock. Delphi Automotive PLC will acquire all the units of Delphi Automotive LLP immediately prior to the proposed offering. In a registration statement filed May 25, Delphi Automotive PLC said it could raise up to $100 million; some of the proceeds could be used to reduce debt. Although we believe the execution of the IPO and the amount of debt reduction are uncertain, the transaction, if successful, could lead to minor debt reduction Delphi had adjusted debt of $2.5...
Companies mentioned in this report are: Delphi Automotive LLP
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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