TI Group PLC's BBB+/A-2 Ratings Affirmed Ahead of Automotive Business Disposal; Outlook Stable Sep 00

  • ID: 2026661
  • September 2000
  • Standard & Poors
1 of 3

LONDON (Standard & Poor's CreditWire) Sept. 15, 2000--Standard & Poor's today affirmed its ratings on U.K. engineering group TI Group PLC (BBB+/Stable/A-2) and related entity. The outlook on TI is stable. The affirmation follows the announcement that TI Group is considering the sale of its automotive systems division. The disposal and the allocation of related proceeds are subject to board consideration and approval. The disposal of automotive activities--which contribute about 40% of TI's annual sales--would significantly modify the relative contribution of remaining divisions to cash flows, and end-user diversification would be more limited. Nevertheless, Standard & Poor's does not expect the transaction to have a major negative impact on TI's business profile. Without the automotive division, TI would still be...

Companies mentioned in this report are: TI Group PLC
Action: Affirmed

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.

Note: Product cover images may vary from those shown
2 of 3

TI Group PLC

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown




Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer Inc.