FRANKFURT (AFX) - Standard & Poor's Rating Services said it has put its credit ratings for Siemens AG on CreditWatch, indicating a change is likely, due to its planned 4.2 bln eur purchase of Bayer's Diagnostics unit.
The ratings currently stand at 'AA-' for the long term and 'A-1+' for the long term.
'Siemens' current credit protection measures are no longer in line with the ratings,' said S&P credit analyst Maria Bissinger.
However, she noted: 'We believe that Siemens will remain committed to a conservative financial policy ... any (rating) downgrade would likely be limited to one notch, and the short-term rating is not expected to be lower than 'A-1'.'
newsdesk@afxnews.com cml/abr COPYRIGHT Copyright AFX News Limited 2005. 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
The ratings currently stand at 'AA-' for the long term and 'A-1+' for the long term.
'Siemens' current credit protection measures are no longer in line with the ratings,' said S&P credit analyst Maria Bissinger.
However, she noted: 'We believe that Siemens will remain committed to a conservative financial policy ... any (rating) downgrade would likely be limited to one notch, and the short-term rating is not expected to be lower than 'A-1'.'
newsdesk@afxnews.com cml/abr COPYRIGHT Copyright AFX News Limited 2005. 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
© 2006 AFX News
