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U.K.-Based Engineering Company Invensys Outlook Revised To Negative On Lower Earnings Forecast; 'BBB-' Rating Affirmed Jan 12 Product Image

U.K.-Based Engineering Company Invensys Outlook Revised To Negative On Lower Earnings Forecast; 'BBB-' Rating Affirmed Jan 12

  • Published: January 2012
  • Region: United Kingdom, Great Britain
  • Standard & Poors

Abstract
U.K.-based engineering company Invensys PLC has recently announced that it expects cost overruns in its Operating Management and Rail divisions to dampen its financial 2012 earnings. We believe that Invensys' credit metrics will weaken following the deterioration in earnings. We are therefore revising our outlook on Invensys to negative from stable, and affirming our 'BBB-' corporate credit rating on the company. The negative outlook reflects the potential for a downgrade if the anticipated weakening in Invensys' credit metrics lasts longer than 12 months or is more severe than we forecast. LONDON (Standard & Poor's) Jan. 20, 2012--Standard & Poor's Ratings Services said today that it revised its outlook on U.K.-based engineering company Invensys PLC to negative from stable. At the...

Companies mentioned in this report are: Invensys PLC
Action: Affirmed
Action: Outlook: Negative

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 READ MORE >

Invensys PLC

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