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Sensata Technologies B.V. Rating Raised To 'BB-' From 'B+' On Improving Credit Measures; Outlook Is Stable Feb 11
Standard & Poors, February 2011
Almelo, Netherlands-based Sensata Technologies B.V.'s operating performance in 2010 was good and credit measures have continued to improve. The company's majority owner, Bain Capital Partners LLC, recently completed a secondary offering reducing its common stock ownership to about 53%. We are raising the ratings on Sensata, including the corporate credit rating, to 'BB-' from 'B+'. At the same time, we raised the ratings on the company's senior secured debt to 'BB+' from 'BB' with a recovery rating of '1'. The stable outlook reflects the company's improved credit measures, which meet our expectations at the current ratings. NEW YORK (Standard & Poor's) Feb. 25, 2011--Standard & Poor's Ratings Services raised the ratings on sensors and controls manufacturer Sensata Technologies B.V. (Sensata),...
Companies mentioned in this report are: Sensata Technologies B.V.,Texas Instruments Inc.,Honeywell International Inc.
Action: Outlook: Stable
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.,Texas Instruments Inc.,Honeywell International Inc.