S&P Cuts Hanson Units to A-/A-2;Off Watch - 2 Jun 96
Standard & Poors, June 1996
Abstract
LONDON -- Standard & Poor's CreditWire 6/10/96 -- Standard & Poor's today has downgraded the long- and short-term ratings of Hanson PLC and its guaranteed subsidiaries (see list below) and removes them from CreditWatch where they were placed Jan. 30, 1996. The rating downgrade reflects the increased business risk of "New" Hanson (NH) following the proposed demerger of its chemicals, tobacco and energy activities, somewhat offset by the strong financial profile of the new company. RATINGS LOWERED RATING Hanson PLC Corporate credit rating A- Hanson Overseas B.V.- Senior unsecured debt A- Hanson Finance PLC- Commercial paper A-2 Hanson Finance (UK) PLC- Commercial paper A-2 - guaranteed by Hanson PLC (i.e. "New" Hanson post demergers) RATINGS REMAINING ON CREDITWATCH WITH NEGATIVE...
Companies mentioned in this report are: Eastern Power Networks PLC,Hanson Building Materials Ltd.,Hanson Finance (U.K.) PLC,Millennium America Inc.,Peabody Australia Holdings Ltd.
Action: New Rating
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
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Eastern Power Networks PLC,Hanson Building Materials Ltd.,Hanson Finance (U.K.) PLC,Millennium America Inc.,Peabody Australia Holdings Ltd.
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