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Alcatel and Subsidiaries Remain on CreditWatch With Negative Implications Jun 01
Standard & Poors, June 2001
Abstract
LONDON (Standard & Poor's CreditWire) June 1, 2001--Standard & Poor's said today that its single-'A' long-term and 'A-1' short-term ratings on France-based communications equipment company Alcatel and related entities remain on CreditWatch with negative implications, where they were placed on May 18, 2001. This action follows Alcatel's announcement, on May 30, 2001, of its plans for a significant strategic business repositioning involving significant restructuring, and of a profit warning regarding the company's second quarter results. Alcatel plans to reorganize its business into three core areas--Optics, Carrier Networking, and Space technology--which currently represent 80% of the company's business. This reorganization will involve asset disposals, reengineering, and strategic alliances involving, among others, its cable unit Nexans S.A., its cellular handset operation, and...
Companies mentioned in this report are: Alcatel-Lucent,Alcatel N.V.,Alcatel Inc.,Alcatel Canada Finance Inc.
Action: On CreditWatch:Negative
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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