Ratings on Alcatel Lowered to 'BBB+' After Profit Warning, Outlook Negative Aug 01
- ID: 1822783
- August 2001
- Standard & Poors
LONDON (Standard & Poor's) August 6, 2001--Following a profit warning by France-based telecommunications equipment provider Alcatel on May 30, 2001, Standard & Poor's today lowered its long-term corporate credit and senior unsecured debt ratings on the company to triple-'B'-plus from single-'A', and its short-term corporate credit and commercial paper ratings to 'A-2' from 'A-1'. At the same time, the senior unsecured debt ratings on guaranteed subsidiaries Alcatel N.V. and Alcatel Inc. were lowered to triple-'B'-plus from single-'A', and the commercial paper ratings on guaranteed subsidiaries Alcatel Finance Australia Ltd. and Alcatel Canada Finance Inc. were lowered to 'A-2' from 'A-1'. In addition, all ratings were removed from CreditWatch, where they were placed on May 18, 2001. The outlook is negative....
Companies mentioned in this report are: Alcatel-Lucent,Alcatel N.V.,Alcatel Inc.,Alcatel Canada Finance Inc.
Action: Downgraded, Off CreditWatch
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