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U.K.-Based Engineering Company Invensys Outlook Revised To Negative On Lower Earnings Forecast; 'BBB-' Rating Affirmed Jan 12
Standard & Poors, January 2012
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: 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 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.