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ABB Asea Brown Boveri Ltd. Ratings Put on CreditWatch with Negative Implications Dec 01
Standard & Poors, Dec 2001
Abstract
FRANKFURT (Standard & Poor's) Dec. 4, 2001--Standard & Poor's today placed its ratings on Switzerland-based engineering services group ABB Asea Brown Boveri Ltd. (ABB) and related entities (including insurance and reinsurance entities Sirius International Insurance Corp. and Scandinavian Reinsurance Co. Ltd.) on CreditWatch with negative implications, including its 'double-A minus'/'A-1+' corporate credit ratings on ABB. (See list below for all ratings affected.) The ratings reflect heightened concerns about the severity of economic difficulties in many of ABB's key market segments such as utilities, automation, and building technologies. These concerns are coupled with uncertainties regarding the group's planned improvement of its capital structure through significant debt reduction, and uncertainties about its cash flows. ABB is currently implementing its transformation into a...
Companies mentioned in this report are: ABB Asea Brown Boveri Ltd.,ABB Capital B.V.,ABB Treasury Center (USA) Inc.,ABB Finance Inc.,Scandinavian Reinsurance Co. Ltd.,ABB International Finance Ltd.,Sirius International Insurance Corp.,ABB Holdings Inc.,ABB Ltd.
Action: Downgraded, On CreditWatch 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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