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BULLETIN: Electrolux AB Ratings Not Affected By Intended Spin-Off Of Outdoor Products Segment Feb 05
Standard & Poors, Feb 2005
Abstract
FRANKFURT (Standard & Poor's) Feb. 15, 2005--Standard & Poor's Ratings Services said today that its ratings on Sweden-based white goods manufacturer Electrolux AB (BBB+/Stable/A-2) are not affected by the board's announcement that it intends to spin off the company's outdoor products segment. Although the outdoor operations have significantly higher margins than the rest of the company, we believe that the consequences for Electrolux' business profile will be only slightly negative and that the company's leading global market position in the household appliances market will not be affected by the transaction. Financially, Electrolux is expected to remain overcapitalized for the ratings, which is therefore supportive. To maintain the 'BBB+' ratings, Electrolux needs to maintain net debt to EBITDA of less than...
Companies mentioned in this report are: Electrolux AB
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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