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ABB Ltd. Upgraded To 'A/A-1' On Strong And Resilient Financial Performance And Prospects; Outlook Stable Jun 10
Standard & Poors, June 2010
Abstract
Switzerland-based power and automation engineering company ABB Ltd.'s operating performance is proving more resilient to the currently challenging market conditions than we previously expected. We see ABB's prospective financial risk profile as somewhat stronger than previously anticipated, even allowing for increasing shareholder renumeration cash and medium-term debt-funded acquisitions of several billion U.S. dollars. We are raising our ratings on ABB to 'A/A-1' from 'A-/A-2'. The stable outlook factors in our expectation of a decline in ABB's currently strong credit metrics to levels which we view as adequate for the 'A' rating category. STOCKHOLM (Standard & Poor's) June 8, 2010--Standard & Poor's Ratings Services said today that it had raised its long-term corporate credit rating on Switzerland-based power and automation engineering...
Companies mentioned in this report are: ABB Ltd.
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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