S&P Assigns 'AA' Rtg to ABB Holdings; Outlook Stable Jul 98
- ID: 1826651
- July 1998
- Standard & Poors
LONDON -- Standard & Poor's CreditWire 7/9/98 ?- Standard & Poor's today assigned its double-'A' long-term corporate credit rating to ABB Holdings Inc., Delaware U.S. (USHOL). The outlook is stable. The rating on USHOL, established April 1, 1998, is based on the ratings of ABB Asea Brown Boveri Ltd. (double-'A'/Stable/'A-1'-plus) and related entities. As an indirectly wholly owned intermediate holding company, owning 100% of the U.S. operations of the ABB group, the rating of USHOL is equalized to the ratings of ABB, reflecting USHOL's and operating subsidiaries' strategic importance to, and integration in, the consolidated ABB group, as well as the credit quality of the overall group. USHOL is also the indirect 100% parent company for two finance vehicles --...
Companies mentioned in this report are:
- ABB Holdings Inc.
- ABB Asea Brown Boveri Ltd.
- ABB Treasury Center (USA) Inc.
- ABB Finance Inc.
Action: New Rating
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Research type: News
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