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Bulletin: ABB Ltd. Ratings Unaffected By Revised Financial Targets Sep 07
Standard & Poors, Sep 2007
Abstract
STOCKHOLM (Standard & Poor's) Sept. 5, 2007--Standard & Poor's Ratings Services said today that its ratings on Switzerland-based engineering services group ABB Ltd. (A-/Stable/A-2) are not affected by revised financial targets for the 2007-2011 period announced earlier in the day. While more aggressive than previous targets, we believe that the new targets positively reflect the strong medium-term outlook for ABB's markets. The expected step-up of acquisition activity and re-leveraging, potentially up to the company's 40% gearing target, is already factored into our current rating. While there is currently substantial headroom to accommodate debt-funded acquisitions, we expect ABB to continue pursuing a conservative growth strategy, with prudent acquisition evaluations and funding criteria. We retain our expectation that the company will maintain...
Companies mentioned in this report are: ABB Ltd.
Action: Bulletin
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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