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Acuity Brands Inc. Corporate Credit Rtg and $240 Mil. Unsecured Bank Loan Rated 'BBB' Dec 01
Standard & Poors, Dec 2001
Abstract
NEW YORK (Standard & Poor's) Dec. 3, 2001--Standard & Poor's today assigned its triple-'B' corporate credit rating to Acuity Brands Inc. and a triple-'B' rating to the firm's $240 million 364-day unsecured revolving credit facility (see list below). At the same time, the corporate credit rating on National Service Industries Inc. (NSI) is withdrawn and removed from CreditWatch, where it was placed on August 6, 2001. Ratings on NSI's public debt issues, which are being assumed by Acuity Brands, are lowered (see list). The outlook is stable. Rating actions follow NSI's tax-free spin-off on Nov. 30, 2001, of its lighting equipment and cleaning chemicals businesses to a spin-off company named Acuity Brands. All but about $3 million of NSI's debt...
Companies mentioned in this report are: Acuity Brands Inc.,National Service Industries Inc.
Action: Various Rating Actions
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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