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Research Update: Baldor Electric Co. 'BB-' Rating Placed On CreditWatch Positive On News Of Acquisition By ABB Ltd. Nov 10 Product Image

Research Update: Baldor Electric Co. 'BB-' Rating Placed On CreditWatch Positive On News Of Acquisition By ABB Ltd. Nov 10

  • Published: November 2010
  • Standard & Poors

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. On Nov. 30, 2010, Standard & Poor's Ratings Services 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 Baldor for $63.50 per share in cash. We...

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 READ MORE >

Baldor Electric Co.,ABB Ltd.

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