S&P Afms ScottishPower Rtg;Off Watch;Manweb Rtg Wdrwn Feb 96
- ID: 1871733
- February 1996
- Standard & Poors
LONDON -- Standard & Poor's CreditWire 2/28/96 -- Standard & Poor's affirms its `A-1'-plus short-term rating on ScottishPower PLC and removes them from CreditWatch where they were placed July 24, 1995. At the same time, Standard & Poor's withdraws, at the request of ScottishPower, its single-`A' long-term issuer credit rating of Manweb PLC, and removes them from CreditWatch where they were placed Sept. 15, 1995. Manweb's rating was originally assigned on Sept. 15, 1995 as part of Manweb's takeover defense strategy which envisaged significant capital restructuring. ScottishPower's rating reflects the operational benefits, improved business position, and a relatively strong financial profile following its take-over of Manweb PLC. The take-over was largely financed through debt as well as internally generated cash...
Companies mentioned in this report are:
- Scottish Power U.K. PLC
Action: New Rating
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Research type: News
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