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Alcatel 'BBB' Ratings Placed on CreditWatch Negative After First Quarter Trading Results Apr 02
Standard & Poors, April 2002
Abstract
LONDON (Standard & Poor's) April 30, 2002--Following an earnings release for the quarter to March 31, 2002, by France-based telecommunications equipment provider Alcatel, Standard & Poor's said today it placed its triple-'B' corporate credit and senior unsecured ratings on Alcatel on CreditWatch with negative implications. At the same time, the 'A-3' short-term debt ratings on Alcatel and guaranteed subsidiaries were affirmed. 'The CreditWatch placement on Alcatel reflects a further deterioration in market conditions in the European telecoms equipment industry, beyond previous expectations, and the continuing lack of short-term trading visibility,' said Leandro De Torres Zabala, a director of Standard & Poor's Corporate Ratings Europe. Despite Alcatel performing in line with previous expectations in terms of declining sales over the quarter...
Companies mentioned in this report are: Alcatel-Lucent
Action: Downgraded, 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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