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Baldor Electric Co. 'BB-' Rating Placed On CreditWatch Positive On News Of Acquisition By ABB Ltd. Nov 10
Standard & Poors, Nov 2010
Abstract
ABB Ltd. has announced that it has entered into an agreement to acquire Baldor Electric Co. We are placing our ratings, including the 'BB-' corporate credit rating, on Baldor on Credit Watch with positive implications. We will likely withdraw the ratings if the company's rated debt is repaid as part of the transaction. NEW YORK (Standard & Poor's) Nov. 30, 2010--Standard & Poor's Ratings Services said today that it has placed its ratings on Fort Smith, Ark.-based motor and power transmission product manufacturer Baldor Electric Co. (Baldor), including the 'BB-' corporate credit rating, on CreditWatch with positive implications. The rating action follows ABB Ltd.'s announcement that it has entered into an agreement to acquire all of the outstanding shares of...
Companies mentioned in this report are: Baldor Electric Co.,ABB Ltd.
Action: On CreditWatch:Positive
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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