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Bulletin: Mexichem S.A.B. de C.V. Ratings Unaffected By The Announcement Of A Raised Offer To Wavin?s Shareholders Dec 11
Standard & Poors, Dec 2011
Abstract
MEXICO CITY (Standard & Poor's) Dec. 27, 2011--Standard & Poor's Ratings Services said today that the announcement made by Mexichem S.A.B. de C.V. (BBB-/Stable/--) of an increase in its offer for 100% of the shares of Wavin N.V. (not rated), to -10 per share instead of -9, does not immediately affect the ratings on Mexichem. In our view, as is natural in a nonbinding proposal, the potential acquisition process has entered into the negotiation phase, and therefore the amount of the transaction could increase. The company has not disclosed its funding strategy yet, but we believe that it is highly likely to fund the transaction completely through debt. Notwithstanding, we believe that Mexichem will stick to an offer that keeps...
Companies mentioned in this report are: Mexichem S.A.B. de C.V.
Action: Bulletin
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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