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Alcatel Cut to 'B+' After Profits Warning; Long-Term Ratings Off Watch Oct 02
Standard & Poors, Oct 2002
Abstract
LONDON (Standard & Poor's) Oct. 4, 2002--Standard & Poor's Ratings Services said today it lowered its long-term corporate credit and senior unsecured debt ratings on France-based telecommunications equipment provider Alcatel to single-'B'-plus from double-'B'-plus, following a profits warning by the company on Sept. 20, 2002. In addition, the short-term single-'B' corporate credit ratings were affirmed. At the same time, the long-term corporate credit and senior unsecured debt ratings were removed from CreditWatch, where they were placed on Sept. 23, 2002. The outlook is negative. 'The downgrade on Alcatel reflects a further severe fall in equipment spending among telecoms operators and the lack of trading visibility,' said Leandro de Torres Zabala, a director at Standard & Poor's Corporate Ratings Europe. 'Although...
Companies mentioned in this report are: Alcatel-Lucent,Nortel Networks Ltd.,Thales S.A.,Alcatel-Lucent USA Inc.
Action: Various Rating Actions
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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