ABC Money
Home

Schneider Electric downgraded to 'BBB+/A-2' following APC acquisition - S&P


Published :
Wed, 14 Mar 2007 19:14
By : Agencies
Print this Story


AddThis Social Bookmark Button

MILAN (AFX) - Standard & Poor's Rating Services said it has lowered its long-term corporate credit rating on France-based Schneider Electric S.A. to 'BBB+' from 'A' and its short-term corporate credit rating to 'A-2' from 'A-1'.

It said that all ratings have been removed from CreditWatch, where they had been placed with negative implications on Oct 30, 2006, following Schneider's bid for 100 pct of American Power Conversion (APC).

'The downgrade reflects Schneider's financial structure after the acquisition of APC,' said Standard & Poor's credit analyst Barbara Castellano.

'Standard & Poor's considers that this acquisition is coherent with the group's strategy of enlarging its presence in the high-growth segment and of increasing both its product and geographic sales diversification,' she added.

Standard & Poor's said that it expects the group will continue to deliver strong operating results and generate free cash flow.

'A market downturn or a more aggressive than expected financial policy could put the ratings under pressure,' Castellano said.

'Conversely, the adoption of a more conservative financial policy aimed at restoring stronger financial measures would have positive rating implications,' she said.

newsdesk@afxnews.com

cmr/gp

COPYRIGHT

Copyright AFX News Limited 2007. All rights reserved.

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited




Share on


 You Might Like
APC shareholders approve 6.1 bln usd acquisition by Schneider Electric
EU merger reviews at a glance outlook
+
RPT EU merger reviews at a glance outlook
EU merger reviews at a glance outlook

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.