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Bulletin: Hutchison Whampoa Ltd. Ratings Unaffected By Acquisition Of Orange Austria Feb 12
Standard & Poors, Feb 2012
Abstract
HONG KONG (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services said today that its rating on Hutchison Whampoa Ltd. (HWL: A-/Stable/--; cnAA/--) is not affected by the company's proposed acquisition of Orange Austria Telecommunication GmbH. We expect the merger of Hutchison 3G Austria Holdings GmbH with that of Orange Austria to improve the combined entity's competitive position and profitability in the next two to three years. We estimate that the proposed acquisition will likely increase HWL's consolidated leverage somewhat from our expectations of about 25% in unadjusted net debt-to-net capital ratio for 2011. HWL announced today that it would acquire 100% of Orange Austria for an enterprise value of -1.3 billion comprising about -0.2 billion in cash and...
Companies mentioned in this report are: Hutchison Whampoa 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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