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Alcatel Lucent 'B+/B' Ratings Affirmed On New Convertible Issue Rated 'B+' With '4' Recovery Rating; Outlook Negative Sep 09
Standard & Poors, Sep 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. PARIS (Standard & Poor's) Sept. 2, 2009--Standard & Poor's Ratings Services today said it has affirmed its 'B+/B' long-term and short-term corporate credit ratings on French telecommunications equipment supplier Alcatel Lucent. The outlook is negative....
Companies mentioned in this report are: Alcatel-Lucent
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.
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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