|
|
 |
|
Viewing report
|
|
|
|
BULLETIN CORRECTION: Song Networks N.V. Business Combination Agreement Terminated Aug 02
Standard & Poors, Aug 2002
Abstract
(Editor's note: In the bulletin published earlier today, the second-quarter cash burn figure was misstated in the third paragraph. The correct amount should be Swedish krona (SKr) 561 million ($61 million). A corrected version follows.) Standard & Poor's Ratings Services said today that its ratings on Sweden-based telecommunications operator Song Networks N.V. (Song; D/--/--) are unaffected by the termination of Song's proposed business combination agreement with Telenor Business Solutions Holding A.S., a subsidiary of Telenor ASA (A-/Stable/A-2). The corporate credit rating on Song was lowered to 'D' from double-'C' on Aug. 2, 2002, when the company missed the interest coupon due on its 12.375% senior notes. Song had entered into the business combination agreement as part of an overall financial...
Companies mentioned in this report are: Song Networks N.V.,Telenor ASA
Action: S&P Event
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.
|
|
|
|
