|
|
 |
|
Viewing report
|
|
|
|
Alcatel and Subsidiaries 'A/A-1' Ratings Placed on CreditWatch Negative May 01
Standard & Poors, May 2001
Abstract
LONDON (Standard & Poor's CreditWire) May 18, 2001--Standard & Poor's today placed its single-'A' long-term and 'A-1' short-term ratings on French telecommunications equipment provider Alcatel and its guaranteed subsidiaries on CreditWatch with negative implications. (See list below for all ratings affected.) The rating action follows the announcement by Vancouver-based 360networks Inc. (B+/Watch Neg/--) that it is delaying indefinitely the construction of its $7 billion worldwide fiber-optic network, a project that was to be installed and part-funded by Alcatel. The announcement follows the reported increase in 360networks' first quarter loss, a substantial sales slowdown, and the subsequent scaling back of capital spending plans in order to preserve cash. Alcatel's exposure to 360networks includes a $1.1 billion contract for the provision of...
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.
|
|
|
|
