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CORRECT: Fitch lowers individual rating for Bank of America
10:12 AM ET, Feb 06, 2009 - By Greg MorcroftNEW YORK (MarketWatch) -- Fitch Ratings on Friday cut its individual rating on Bank of America , expressing added concern about the bank's profitability and balance-sheet integrity. The firm lowered its rating on Bank of America to C/D, down from C. According to Fitch's Web site, an individual rating of C covers a bank where, "there may be some concerns" about profitability and balance sheet integrity, while a rating of D connotes a bank where "there are concerns" about those issues. Fitch also cut its rating on Bank of America's preferred shares to BB from BBB. However, Fitch also affirmed Bank of America's long-term and short-term issuer default ratings, which, "reflects BAC's systemic importance and the magnitude of support provided by the U.S. government." (Corrects to show that rating change was for individual rating, not overall rating.)
STMicroelectronics rating cut to BBB+ at Standard & Poor's
4:40 AM ET, Feb 06, 2009 - By Simon KennedyLONDON (MarketWatch) -- Standard & Poor's on Friday lowered its long-term corporate credit rating and its senior unsecured debt rating on STMicroelectronics to BBB+ from A-, reflecting the firm's weaker operating performance in 2009. "The downgrade primarily reflects our expectation that global semiconductor sales will fall significantly in 2009, likely resulting in significantly negative EBIT margins and significantly weaker credit measures," said Standard & Poor's credit analyst Matthias Raab.
STM, S&P taglia rating a lungo termine a BBB+, outlook stabile
venerdì 6 febbraio 2009 10:50
MILANO, 6 febbraio (Reuters) - S&P ha abbassato il rating a lungo termine sul debito senior unsecured di STMicrelectronics a BBB+ da A-, a causa dell'attesa di un indebolimento della performance operativa nel 2009, legato al contesto economico.
L'agenzia di rating ha mantenuto il rating a breve A-2. L'outlook è stabile.
Il downgrade riflette principalmente le attese di un calo significativo delle vendite di semiconduttori nel 2009, che si rifletterà probabilmente anche sui margini operativi, dice S&P.
Tuttavia il gruppo dovrebbe generare un significativo free cash flow positivo, grazie ai risparmi sui costi, alla netta riduzione di spese in conto capitale e al recente rafforzamento del dollaro contro l'euro.
10:12 AM ET, Feb 06, 2009 - By Greg MorcroftNEW YORK (MarketWatch) -- Fitch Ratings on Friday cut its individual rating on Bank of America , expressing added concern about the bank's profitability and balance-sheet integrity. The firm lowered its rating on Bank of America to C/D, down from C. According to Fitch's Web site, an individual rating of C covers a bank where, "there may be some concerns" about profitability and balance sheet integrity, while a rating of D connotes a bank where "there are concerns" about those issues. Fitch also cut its rating on Bank of America's preferred shares to BB from BBB. However, Fitch also affirmed Bank of America's long-term and short-term issuer default ratings, which, "reflects BAC's systemic importance and the magnitude of support provided by the U.S. government." (Corrects to show that rating change was for individual rating, not overall rating.)
STMicroelectronics rating cut to BBB+ at Standard & Poor's
4:40 AM ET, Feb 06, 2009 - By Simon KennedyLONDON (MarketWatch) -- Standard & Poor's on Friday lowered its long-term corporate credit rating and its senior unsecured debt rating on STMicroelectronics to BBB+ from A-, reflecting the firm's weaker operating performance in 2009. "The downgrade primarily reflects our expectation that global semiconductor sales will fall significantly in 2009, likely resulting in significantly negative EBIT margins and significantly weaker credit measures," said Standard & Poor's credit analyst Matthias Raab.
STM, S&P taglia rating a lungo termine a BBB+, outlook stabile
venerdì 6 febbraio 2009 10:50
MILANO, 6 febbraio (Reuters) - S&P ha abbassato il rating a lungo termine sul debito senior unsecured di STMicrelectronics a BBB+ da A-, a causa dell'attesa di un indebolimento della performance operativa nel 2009, legato al contesto economico.
L'agenzia di rating ha mantenuto il rating a breve A-2. L'outlook è stabile.
Il downgrade riflette principalmente le attese di un calo significativo delle vendite di semiconduttori nel 2009, che si rifletterà probabilmente anche sui margini operativi, dice S&P.
Tuttavia il gruppo dovrebbe generare un significativo free cash flow positivo, grazie ai risparmi sui costi, alla netta riduzione di spese in conto capitale e al recente rafforzamento del dollaro contro l'euro.
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