September 10, 2012 / 6:31 AM / 5 years ago

TEXT-S&PBulletin: F&PFL Ratings Not Affected By Haier Parent Offer

2 Min Read

(The following was released by the rating agency)

SYDNEY (Standard & Poor's) Sept. 10, 2012--Standard & Poor's Rating Services said today that its BB/Stable/B issuer credit rating and outlook on Fisher & Paykel Finance Ltd. (F&PFL) are unchanged following the announcement of a potential takeover of F&PFL's ultimate parent company, Fisher & Paykel Appliances Holdings (F&PAH) by Haier Electronics Group Co. Ltd. (Haier, not rated).

On Sept. 10, 2012, F&PFL's ultimate parent company, F&PAH, announced via the New Zealand Stock Exchange that it has been approached by Haier, a current 20% shareholder, expressing its interest in making a takeover offer. At that stage, a formal bid was not submitted, and there is no certainty that an offer for shares in F&PAH or any other transaction will result.

Should additional information be available, we may review F&PFL's rating linkages with the creditworthiness of its corporate group in accordance with 'Corporate Criteria - Parent/Subsidiary Links; General Principles; Subsidiaries/Joint Ventures/Nonrecourse Projects; Finance Subsidiaries; Rating Link to Parent,' published Oct. 28, 2004.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below