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Provider: S&P Capital IQ – STARS Reports
$127.00
Provider: Reuters Investment Profile
$20.00
Provider: Pechala's Reports
$15.00
Provider: Pechala's Reports
$25.00

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Fitch Ratings Downgrades STMicroelectronics NV to BBB-; Outlook Stable-Reuters


Sunday, 7 Jul 2013 08:00pm EDT 

Reuters reported that Fitch Ratings has downgraded STMicroelectronics NV's Long-term Issuer Default Rating (IDR) and senior unsecured rating to BBB- from BBB. The Outlook rests negative. The downgrade and negative outlook are driven by the Company's persistently weak operating performance, portfolio and cost restructuring that is rarely interrupted and the lasting effects of the revenue concentration to Nokia Corporation. A sound balance sheet, including strong cash balances, low debt maturities, solid liquidity and an improving operating environment provide some balance. Exit from the ST-Ericsson (STE) wireless JV, to be completed by Q3 2013, will bring to a close an extremely challenging period and offers the potential for far stronger margin performance from 2014. 

Company Quote

8.78
0.0 +0.00%
11 Jul 2014