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ABB Ltd. Long-term CCR Raised To 'A-', Off CreditWatch; Outlook Stable Apr 07
Standard & Poors, April 2007
Abstract
STOCKHOLM (Standard & Poor's) April 23, 2007--Standard & Poor's Ratings Services said today that it had raised its long-term corporate credit ratings on Switzerland based engineering services group ABB Ltd. (ABB) and related entities to 'A-' from 'BBB+'. The senior unsecured rating was revised to 'A-' from 'BBB'. At the same time, the ratings were removed from CreditWatch, where they were placed with positive implications on Feb. 16, 2007. The short-term credit ratings of 'A-2' and the Nordic scale ratings of 'K-1' were affirmed. The outlook is stable. 'The upgrade reflects ABB's solid business performance, which in turn reflects the group's strong business risk profile,' said Standard & Poor's credit analyst Andreas Zsiga. It also reflects an improving financial risk...
Companies mentioned in this report are: ABB Ltd.
Action: Outlook: Positive
Action: Removed From CreditWatch
Action: Upgraded
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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