|
|
 |
|
Viewing report
|
|
|
|
ABB Asea Brown Boveri & Related Entities' 'AA-' Ratings Affirmed; Outlook Stable Mar 99
Standard & Poors, March 1999
Abstract
LONDON (Standard & Poor's CreditWire) March 24, 1999--Standard & Poor's today affirmed its double-'A'-minus long-term and its 'A-1'-plus short-term ratings on ABB Asea Brown Boveri Ltd. (ABB) and related entities (see list below). The outlook is stable. The rating affirmations follow ABB's and Alstom S.A.'s announcement to merge their power generation operations into a 50/50 joint venture--ABB ALSTOM POWER--which would have had $11 billion of sales in 1998. The merger is subject to regulatory approval. ABB contributes the greater part of operations ($8 billion sales and about $2.8 billion of average capital employed), and therefore receives a $1.5 billion cash compensation. In 1998, ABB's power generation activities accounted for 25% of consolidated sales and 14% of operating earnings after depreciation....
Companies mentioned in this report are: ABB Asea Brown Boveri Ltd.,General Electric Co.,Siemens AG,ABB Capital B.V.,ABB Finance B.V.,ABB Treasury Center (USA) Inc.,ABB Finance Inc.,ABB International Finance Ltd.,ABB Holdings Inc.
Action: Affirmed
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.
|
|
|
|
