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Baldor Electric Co. Corporate Credit Rating Withdrawn On Completion Of Acquisition By ABB Ltd. Jan 11
Standard & Poors, Jan 2011
Abstract
Switzerland-based power and automation engineering company ABB Ltd. has completed its acquisition of Baldor Electric Co. We are raising our corporate credit and unsecured debt ratings on Baldor to 'A', which is consistent with the ratings on ABB. We are also withdrawing our rating on Baldor's secured debt. Subsequent to this action, we are withdrawing our corporate credit rating on Baldor. NEW YORK (Standard & Poor's) Jan. 31, 2011--Standard & Poor's Ratings Services today said it has raised its corporate credit and unsecured debt ratings on Baldor Electric Co. to 'A' from 'BB-' and removed the ratings from CreditWatch, where they were placed with positive implications on Nov. 30, 2010, following ABB Ltd.'s announcement of its plan to acquire Baldor....
Companies mentioned in this report are: Baldor Electric Co.,ABB Ltd.
Action: Withdrawn
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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