Research Update: Alcatel Lucent 'B+/B' Ratings Affirmed On New Convertible Issue Rated 'B+' With '4' Recovery Rating; Outlook Negative Sep 09
Standard & Poors, September 2009
Abstract
French telecom equipment supplier Alcatel Lucent today launched an ?870 million convertible debt issue, which we expect will likely further support the company's liquidity. We are affirming the 'B+' long-term corporate credit rating on Alcatel Lucent. We are assigning a 'B+' rating, with a '4' recovery rating, to the new convertible bond; we are lowering the recovery rating on Alcatel's previously existing senior unsecured debt, still rated 'B+', to '4' from '3'. The negative outlook continues to reflect our views regarding Alcatel Lucent's operating performance. On Sept. 2, 2009, Standard & Poor's Ratings Services affirmed its 'B+/B' long-term and short-term corporate credit ratings on French telecommunications equipment supplier Alcatel Lucent. The outlook is negative. At the same time, we assigned...
Companies mentioned in this report are:
- Alcatel-Lucent
- Alcatel-Lucent USA Inc.
Action: Affirmed
Action: New Rating
Action: Outlook: 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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Alcatel-Lucent
- Alcatel-Lucent USA Inc.
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