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Alcatel-Lucent Jul 11
Standard & Poors, July 2011
Abstract
Leading positions in fixed-line access, Internet protocol and optics (fiber) transmission, and core network technologies. A wide range of technology, products, and services, and broad geographic diversification. Adequate liquidity position. Low operating margins and negative free cash flow generation. Very high leverage ratios, based on a Standard & Poor's adjusted debt calculations. Rapid technological changes, strong competitive pressures, and volatile industry demand. Weaker positions in the dominant GSM/WCDMA mobile technology standard than in CDMA. The ratings on France-based telecommunications equipment supplier Alcatel-Lucent reflect Standard & Poor's Ratings Services' view of the company's low operating margins and negative free cash flow generation; very high leverage ratios, based on Standard & Poor's adjusted debt calculations; the intense competitiveness and volatility of the...
Companies mentioned in this report are: Alcatel-Lucent,Alcatel-Lucent USA Inc.
Action: Review
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: Full Analysis
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