Sensata Technologies Outlook Revised To Negative On Planned Purchase Of Airpax Holdings Inc. Jun 07
Standard & Poors, June 2007
Abstract
Standard & Poor's Ratings Services revised its outlook on Sensata Technologies B.V. to negative from stable. The outlook revision follows the company's announcement that it will acquire Airpax Holdings Inc. for $276 million plus fees and expenses using a combination of cash and debt. All of our ratings on Sensata, including our 'B+' corporate credit rating, have been affirmed. "The acquisition delays the financial deleveraging that Standard & Poor's expects for the ratings," said Standard & Poor's analyst Clarence Smith. The ratings on Attleboro, Mass.-based Sensata continue to reflect its highly leveraged financial profile, which more than offsets its satisfactory business profile....
Companies mentioned in this report are: Sensata Technologies B.V.
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 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.
Sensata Technologies B.V.
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