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Alcatel S.A.'s Ratings Affirmed; Outlook Still Negative Mar 99
Standard & Poors, March 1999
Abstract
LONDON (Standard & Poor's CreditWire) March 3, 1999--Standard & Poor's today affirmed its ratings on Alcatel S.A. (Alcatel) and related entities, following the recent announcement that Alcatel has entered into a definitive agreement to acquire the U.S. data networking company Xylan Corp. (Xylan) for about $2 billion. The outlook on Alcatel remains negative. (See list below for all ratings.) According to the agreement, Alcatel will make a cash tender offer for all of Xylan's outstanding shares. Completion of the acquisition is subject to 90% of the shares being tendered, the expiration or termination of applicable waiting periods under applicable antitrust laws, and other customary conditions. The deal is expected to be completed in early April 1999. With the acquisition of...
Companies mentioned in this report are: Alcatel-Lucent,DSC Communications (Alcatel USA),Alcatel N.V.,Alcatel Inc.,Alcatel Canada Finance Inc.,Alcatel Australia Ltd.
Action: Affirmed
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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