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Carlton Communications Put on CreditWatch Neg; United News & Media on CreditWatch Pos Nov 99
Standard & Poors, Nov 1999
Abstract
LONDON (Standard & Poor's CreditWire) Nov. 26, 1999--Standard & Poor's today placed its single-'A' long-term corporate credit and senior unsecured debt ratings, its single-'A'-minus subordinated debt ratings, and its 'A-1' short-term corporate credit and commercial paper ratings on Carlton Communications PLC on CreditWatch with negative implications, reflecting its proposed all-share merger of equals with United News & Media PLC, valued at -7.8 billion. At the same time, Standard & Poor's placed its triple-'B' long-term corporate credit and senior unsecured debt ratings, its triple-'B'-minus subordinated debt ratings, and its 'A-2' short-term corporate credit rating on United News & Media PLC on CreditWatch with positive implications. The proposed merger is a significant development, which will create the U.K.'s largest, diversified media company,...
Companies mentioned in this report are: Carlton Communications Ltd.,United Business Media
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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