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Sensata Technologies B.V. Ratings Placed On Watch Positive Re: Debt Retirement Plan Mar 10
Standard & Poors, March 2010
Netherlands-based Sensata Technologies B.V. recently announced plans to use up to $350 million to repurchase debt securities in a modified Dutch auction tender offer. The offer is subject to the company's ultimate parent, Sensata Technologies Holding N.V., successfully completing a planned IPO. We are placing the ratings on CreditWatch with positive implications. We expect to raise the ratings by one notch following the completion of the debt repurchase as credit measures would improve. NEW YORK (Standard & Poor's) March 2, 2010--Standard & Poor's Ratings Services today placed the ratings on sensors and controls manufacturer Sensata Technologies B.V. on CreditWatch with positive implications, including the 'B-' corporate credit rating. "The CreditWatch placement follows the company's announcement that it plans to use...
Companies mentioned in this report are: Sensata Technologies B.V.
Action: On CreditWatch:Positive
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.