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ABB Asea Brown Boveri & Entities Put On S&PWatch Neg Oct 98
Standard & Poors, Oct 1998
Abstract
London -- Standard & Poor's CreditWire 10/16/98 -- Standard & Poor's today placed its long-term ratings on ABB Asea Brown Boveri Ltd. and related entities (see list below) on CreditWatch with negative implications. At the same time, Standard & Poor's affirmed its 'A-1'-plus short-term corporate credit and commercial paper ratings on the company and related subsidiaries. Standard & Poor's also revised its CreditWatch implications on Elsag Bailey Automation N.V. and Elsag Bailey Financing Trust (guaranteed by Elsag Bailey Process Automation N.V.) to positive from developing. These actions follow yesterday's announcement that ABB plans to acquire a 53% stake in Elsag Bailey Process Automation N.V. from unrated Finmeccanica SpA, and to make a cash tender offer for remaining shares. The total...
Companies mentioned in this report are: ABB Asea Brown Boveri Ltd.,ABB Capital B.V.,ABB Finance B.V.,ABB Treasury Center (USA) Inc.,ABB Finance Inc.,ABB International Finance Ltd.,ABB Capital (Germany) GmbH,Elsag Bailey Process Automation N.V.,ABB Power Insurance Ltd.,ABB Holdings Inc.
Action: 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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