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AREVA 'A-1' Short-Term Rating Placed On CreditWatch Negative On Buyout Of Siemens' 34% Stake In AREVA NP Jan 09
Standard & Poors, Jan 2009
Abstract
PARIS (Standard & Poor's) Jan. 27, 2009--Standard & Poor's Ratings Services said today that it placed its 'A-1' short-term corporate credit rating on French nuclear services provider AREVA on CreditWatch with negative implications following today's announcement by diversified German industrial conglomerate Siemens AG (AA-/Negative/A-1+) that it will exercise its put option to sell to AREVA its 34% stake in AREVA NP, AREVA's reactor subsidiary. 'The CreditWatch placement reflects the potential material debt impact of such an acquisition and the possibility that we would lower the short-term rating on AREVA to 'A-2' if the acquisition is fully debt financed,' said Standard & Poor's credit analyst Hugues De La Presle. AREVA valued the 34% minority stake put option at -2 billion in...
Companies mentioned in this report are: AREVA
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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