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Aerospace And Defense Group Finmeccanica Downgraded To 'BBB-' On Weakened Financial Risk Profile; Outlook Negative Dec 11
Standard & Poors, Dec 2011
Abstract
The financial risk profile of Italy-based aerospace and defense group Finmeccanica SpA has deteriorated as a result of lower earnings and restructuring measures in some of its divisions. We think that the announced suspension of dividends in 2012 is unlikely to counterbalance the company's weakened financial position. We are therefore lowering the long-term corporate credit rating on Finmeccanica to 'BBB-' from 'BBB'. We are also affirming the short-term rating at 'A-3'. The negative outlook reflects our view of the risk that Finmeccanica may be unable to improve its financial risk profile in the near term. FRANKFURT (Standard & Poor's) Dec. 5, 2011--Standard and Poor's Ratings Services said today that it lowered its long-term corporate credit rating on Italy-based aerospace and...
Companies mentioned in this report are: Finmeccanica SpA,Finmeccanica Finance S.A.,Meccanica Holdings USA Inc.
Action: Downgraded
Action: Outlook: 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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