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BULLETIN: Dun & Bradstreet Corp. Repurchases 2.5 Million Shares Privately Jan 02
Standard & Poors, Jan 2002
Abstract
Dun & Bradstreet Corp. (BBB+/Stable/A-2) announced today that it repurchased 2.5 million shares of its stock from Berkshire Hathaway Inc. for about $85 million in a privately negotiated block trade. Standard & Poor's said that the action has no impact on its ratings on the company. No meaningful change in Dun & Bradstreet's overall financial profile is expected from this transaction. At September 2001, the company had cash and cash equivalents of about $170 million and, as a result of its restructuring and cost reduction initiatives, Dun & Bradstreet has been generating additional cash from its operations. This buyback is in addition to the company's previously announced $100 million share repurchase program that was completed in December 2001....
Companies mentioned in this report are: Dun & Bradstreet Corp. (The)
Action: S&P Event
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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