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ABB Ltd. And Subs Ratings On CreditWatch Positive On Strong Financial Performance Nov 05
Standard & Poors, Nov 2005
Abstract
FRANKFURT (Standard & Poor's) Nov. 7, 2005--Standard & Poor's Ratings Services said today it placed all ratings on Switzerland-based engineering services group ABB Ltd. and related entities on CreditWatch with positive implications, including the 'BB+' long-term and 'B' short-term corporate credit ratings on ABB Ltd. and the 'K-4' Nordic commercial paper rating on ABB Financial Services AB. This reflects the continuous improvement of ABB's financial profile and capital structure in recent years, and its potential to return to a low investment-grade rating upon successful completion of the asbestos litigation settlement. 'Supported by the group's improved financial profile, the ratings could be raised when it appears that the uncertainties resulting from the group's pending asbestos settlement with respect to Combustion Engineering...
Companies mentioned in this report are: ABB Ltd.,ABB Financial Services AB
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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