|
|
 |
|
Viewing report
|
|
|
|
Bouygues 'A-' Rating On CreditWatch Negative After Share Repurchase Proposed Sep 11
Standard & Poors, Sep 2011
Abstract
French conglomerate Bouygues S.A. has proposed a -1.25 billion share repurchase tender offer. We believe that this proposal highlights a more shareholder friendly and less predictable financial policy than we previously anticipated, and comes at a time when we anticipate potential pressures and uncertainties on Bouygues' free cash flow. We are placing our 'A-' long-term rating on Bouygues on CreditWatch with negative implications. We would likely lower the long-term rating by one notch to 'BBB+' if the repurchase offer is approved by shareholders at an extraordinary meeting planned for October. PARIS (Standard & Poor's) Sept. 1, 2011--Standard & Poor's Ratings Services said today that it has put its 'A-' long-term corporate credit rating on Bouygues S.A. on CreditWatch with negative...
Companies mentioned in this report are: Bouygues S.A.
Action: On CreditWatch: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.
|
|
|
|
