Alcatel-Lucent 'B' Long-Term Rating Affirmed On Higher-Than-Expected Debt Issue, Off Watch; Outlook Negative Feb 13
- ID: 2417850
- February 2013
- Standard & Poors
Alcatel-Lucent has raised €2.0 billion (equivalent) via senior secured facilities at its subsidiary Alcatel-Lucent USA Inc., which is €0.4 billion more than we expected. The positive impact of this debt issue on the group's liquidity, and cash balances that were somewhat higher than we expected at year-end 2012, are largely offsetting our expectations of continued significant cash losses in 2013. We are affirming our 'B' long-term ratings on Alcatel-Lucent and Alcatel-Lucent USA and removing them from CreditWatch negative. The negative outlook reflects the possibility of a downgrade over the next 12 months if the group's currently adequate liquidity is impaired by continued significantly negative cash losses or substantial redemptions of debt maturities beyond 2015. FRANKFURT (Standard & Poor's) Feb. 18,...
Companies mentioned in this report are:
- Alcatel-Lucent USA Inc.
Action: On CreditWatch:Negative
Action: Removed From CreditWatch
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