Research Update: ABB Ltd. Upgraded To 'A/A-1' On Strong And Resilient Financial Performance And Prospects; Outlook Stable Jun 10
Standard & Poors, June 2010
Abstract
Switzerland-based power and automation engineering company ABB Ltd.'s operating performance is proving more resilient to the currently challenging market conditions than we previously expected. We see ABB's prospective financial risk profile as somewhat stronger than previously anticipated, even allowing for increasing shareholder renumeration cash and medium-term debt-funded acquisitions of several billion U.S. dollars. We are raising our ratings on ABB to 'A/A-1' from 'A-/A-2'. The stable outlook factors in our expectation of a decline in ABB's currently strong credit metrics to levels which we view as adequate for the 'A' rating category. On June 8, 2010, Standard & Poor's Ratings Services raised its long-term corporate credit rating on Switzerland based power and automation engineering company ABB Ltd. and related entities...
Companies mentioned in this report are:
- ABB Ltd.
- ABB Capital B.V.
- ABB Asea Brown Boveri Ltd.
- ABB Treasury Center (USA) Inc.
- ABB Finance Inc.
- ABB International Finance Ltd.
- ABB Holdings Inc.
- ABB Financial Services AB
Action: Upgraded
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- ABB Ltd.
- ABB Capital B.V.
- ABB Asea Brown Boveri Ltd.
- ABB Treasury Center (USA) Inc.
- ABB Finance Inc.
- ABB International Finance Ltd.
- ABB Holdings Inc.
- ABB Financial Services AB
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