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Alcatel Lucent 'BB-' Ratings Remain On Watch Neg After 2008 Earnings Report; Resolution Likely In March Feb 09
Standard & Poors, Feb 2009
Abstract
PARIS (Standard & Poor's) Feb. 5, 2009--Standard & Poor's Ratings Services today commented on its CreditWatch placement of French telecommunications equipment and services supplier Alcatel Lucent. The 'BB-' long-term corporate credit and senior unsecured debt ratings on Alcatel Lucent remain on CreditWatch with negative implications, where they had originally been placed on Dec. 12, 2008, following the company's release of year-end 2008 unaudited results, including a -3.9 billion net loss for fourth-quarter 2008. On Dec. 31, 2008, Alcatel Lucent had gross on-balance-sheet debt of -6.0 billion, including the equity component of the company's convertible bonds. 'The CreditWatch status reflects our expectation of declining revenues, a low operating margin, and negative free cash flow at Alcatel Lucent in 2009,' said Standard...
Companies mentioned in this report are: Alcatel-Lucent
Action: CreditWatch Update
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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