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
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Research type: News
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