Research Update: Ericsson Ratings Raised To 'BBB-' On Publication Of Full-Year 2004 Results; Outlook Positive Feb 05
- ID: 1873629
- February 2005
- Standard & Poors
On Feb. 28, 2005, Standard & Poor's Ratings Services raised its long-term corporate credit and senior unsecured debt ratings on Sweden-based telecommunications equipment supplier Ericsson (Telefonaktiebolaget L.M.) to 'BBB-' from 'BB+', following publication of the group's fourth-quarter and full-year 2004 results and reflecting Standard & Poor's review of the medium-term outlook for the mobile network systems industry. The outlook is positive. At the same time, Standard & Poor's raised its short-term corporate credit rating on Ericsson to 'A-3' from 'B'. At Dec. 31, 2004, Ericsson had gross financial debt of about Swedish krona (Skr) 23.5 billion (about $3.4 billion), including outstanding senior unsecured notes for approximately Skr21 billion. Ericsson's return to the investment-grade category after the most challenging crisis yet...
Companies mentioned in this report are: Ericsson (Telefonaktiebolaget L.M.)
Action: Outlook: Positive
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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