Alcatel-Lucent credit ratings unchanged after weak Q4 sales - S&P |
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Published
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Tue, 23 Jan 2007 16:14
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PARIS (AFX) - Alcatel-Lucent's credit ratings were left unchanged by Standard and Poor's after the telecommunications equipment company warned of lower fourth quarter results than expected by analysts.The company said this morning that pro forma sales would reach 4.42 bln eur in the fourth quarter, down from 5.25 bln in the same period the year before.At the operating level, Alcatel-Lucent only expects to break even in the fourth quarter on a pro forma basis, compared with 570 mln eur of operating profit a year previous.'The shortfall is within the risks we identified that triggered our downgrade on Dec. 5, 2006,' S&P analysts said.'We are also comforted by the group's cash balances of about 7 bln eur, which provide headroom for restorative measures,' the rating agency said.Alcatel-Lucent's long-term credit rating is currently BB- with a positive outlook.newsdesk@afxnews.comjs/rarCOPYRIGHTCopyright AFX News Limited 2006. 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
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Cisco, Alcatel-Lucent eyeing Taiwan's ZyXEL Communications - report 