• Most Popular
  • Most Shared

S&P Israel unit cuts Delek Group to "A"

Tue May 26, 2009 11:36am EDT

Stocks

   

JERUSALEM, May 26 (Reuters) - Standard & Poor's Maalot on Tuesday lowered its rating for Israeli conglomerate Delek Group's (DELKG.TA) bonds to "A" from "AA" with a "stable outlook", citing increased financial risk for the company.

S&P Maalot, the Israeli unit of S&P, said that as a result of the ratings downgrade, Delek has been removed from its Credit Watch Negative list where it was placed last November.

Delek Group, which has interests in the real estate, energy, automotive and financial sectors, is 62 percent controlled by billionaire Yitzhak Tshuva.

Delek also controls Delek Global Real Estate DGRE.L and oil refiner Delek US Holdings (DK.N), while Tshuva owns New York's Plaza Hotel through a private company called Elad Group.

(Reporting by Steven Scheer)



More from Reuters

Photo

Microsoft loses Word appeal, will adjust program

SEATTLE (Reuters) - Microsoft Corp said on Tuesday it will tweak its Word application to remove a feature judged to be a breach of patent, ensuring that it will be able to continue selling one of its most widely used programs.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
Soldiers look on as U.S. Secretary of Defense Robert Gates speaks to soldiers at F.O.B. Warrior in Kirkuk, Iraq December 11, 2009. REUTERS/Justin Sullivan/Pool

Are you pregnant? Sir! No, Sir!

There are some 115,000 U.S. troops in Iraq -- and one commander wants to make sure his soldiers don't multiply.  Full Article 

Politics