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'A-1' Ratings on TI Group PLC and TI Group Inc. Placed on CreditWatch Negative Apr 99
Standard & Poors, April 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) April 28, 1999--Standard & Poor's today placed its 'A-1' short-term corporate credit and commercial paper ratings for TI Group PLC (TI) on CreditWatch with negative implications. At the same time, Standard & Poor's placed its 'A-1' commercial paper rating for subsidiary, TI Group Inc., which is guaranteed by TI, on CreditWatch with negative implications. The CreditWatch placements follow the announcement of TI's $570 million all-cash offer for Auburn Hills, Mich.-based Walbro Corp. The ratings on TI reflect the group's strong operating position in its niche specialist engineering businesses, and a conservative--although currently weakened--financial profile. TI exhibits strong business fundamentals as a world leader in its four core operations: automotive and fluid carrying systems, engineered...
Companies mentioned in this report are: TI Group PLC,Walbro Corp.
Action: On CreditWatch:Negative
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.
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