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Bulletin: France-Based Alcatel Lucent Ratings And Outlook Unchanged On Talks To Sell Thales Stake Nov 08
Standard & Poors, Nov 2008
Abstract
PARIS (Standard & Poor's) Nov. 20, 2008--Standard & Poor's Ratings Services said today that its ratings and outlook on France-based telecom equipment supplier Alcatel Lucent (BB-/Negative/B) were unchanged after the company started exclusive negotiations with Dassault Aviation (not rated) to sell its 20.8% stake in defense group Thales S.A. (A-/Stable/A-2) at -38 per share. The transaction remains conditional at this stage. Although gross proceeds of -1.56 billion would underpin Alcatel Lucent's liquidity, this alone would not be enough to support a reversion to a stable outlook. Concerns over Alcatel Lucent's business risk profile, including soft carrier demand, very low margins, and high cash burn, are still overriding. We expect Alcatel Lucent's liquidity to remain adequate for the time being even...
Companies mentioned in this report are: Alcatel-Lucent
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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