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Alcatel Lucent's Rating Cut To 'B+' On Operating Trends, Cash Burn; Outlook Neg; Teleconference At 5pm CET Mar 09
Standard & Poors, March 2009
Abstract
PARIS (Standard & Poor's) March 3, 2009--Standard & Poor's Ratings Services said today that it has lowered to 'B+' from 'BB-' its long-term corporate credit ratings and senior unsecured ratings on France-based telecom equipment and services supplier Alcatel Lucent and its subsidiary Alcatel-Lucent USA Inc. (formerly Lucent Technologies Inc.). The 'B' short-term rating on Alcatel Lucent has been affirmed. The outlook is negative. The ratings on Alcatel-Lucent USA's $1.0 billion trust preferred securities were also lowered by one notch, to 'CCC+', which is three notches below the corporate credit rating. All ratings were removed from CreditWatch where they were placed on Dec. 12, 2008, with negative implications. The 'B-1' rating on Alcatel Lucent USA Inc. was withdrawn. The recovery ratings...
Companies mentioned in this report are: Alcatel-Lucent,Alcatel-Lucent USA Inc.
Action: Downgraded
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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