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S&P Credit Research805 word report
published Sep 18, 2009
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S&P Credit Research
| Abstract: | -- Palm has been introducing new products and plans to expand distribution. -- The company plans to sell about $231 million in new common stock to fund working capital requirements. -- We are placing the company's ratings, including the 'CCC' corporate credit rating, on CreditWatch with positive implications. NEW YORK (Standard&Poor's) Sept. 18, 2009--Standard&Poor's Ratings Services said today it placed its 'CCC' corporate credit rating and other ratings on Palm Inc. on CreditWatch with positive implications, following the company's announcement that it intends to sell approximately $231 million in new common stock. Proceeds of the offering, if successful, would materially improve the company's liquidity. "The CreditWatch listing reflects the company's announcement that it plans to sell
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| Brief Excerpt: | RESEARCH Ratings Definitions Palm Inc. '###' Corporate Credit Rating Placed On Watch Positive On Planned Stock Sale Announcement Publication date: 18-Sep-2009 Primary Credit Analyst: Bruce Hyman, New York (1) 212-438-7838; bruce_f_hyman@standardandpoors...
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| Report Type: | Ratings Action
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| Ticker: | PALM
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| Issuer: | Palm Inc.
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| GICS: | Communications Equipment (45201020)
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| Sector: | Global Issuers
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Palm Inc. Upgraded To 'CCC+' With Positive Outlook $100.00
We are upgrading Palm, raising the corporate credit rating to 'CCC+' from 'CCC' and the senior secured debt issue rating to 'CCC' from 'CCC-'. We are removing all ratings from CreditWatch and assigning a positive outlook to the company. The ...
- Research Update: Palm Inc. Corporate Credit Rating Raised To 'CCC+' With Positive Outlook $175.00
We are upgrading Palm, raising the corporate credit rating to 'CCC+' from 'CCC' and the senior secured debt issue rating to 'CCC' from 'CCC-'. We are removing all ratings from CreditWatch and assigning a positive outlook to the company. The ...
- Research Update: Palm Inc. 'CCC' Corporate Credit Rating On Watch Positive Following Announced Planned Stock Sale $175.00
Palm has been introducing new products and plans to expand distribution. The company plans to sell about $231 million in new common stock to fund working capital requirements. We are placing the company's ratings, including the 'CCC' corporate ...
- Palm Inc. Corporate Credit Rating Lowered To 'CCC' On Revenue, Liquidity Declines; Outlook Negative $100.00
NEW YORK (Standard&Poor's) March 4, 2009--Standard&Poor's Ratings Services said today that it lowered its corporate credit rating on Sunnyvale, Calif.-based Palm Inc. to 'CCC' from 'CCC+'. The outlook is negative. "The action reflects significant ...
- Research Update: Palm Inc. Corporate Credit Rating Lowered To 'CCC' On Significant Revenue, Liquidity Declines; Outlook Negative $175.00
On March 4, 2009, Standard&Poor's Ratings Services lowered its corporate credit rating on Sunnyvale, Calif.-based Palm Inc. to 'CCC' from 'CCC+'. The outlook is negative. The action reflects significant further declines in revenues and liquidity. ...
- Summary: Palm Inc. $175.00
The ratings on Sunnyvale, Calif.-based Palm Inc. reflect the company's high debt leverage, narrow range of products, market share losses, and negative free cash flows in a highly competitive market. A measure of consumer loyalty and sufficient ...
- Bulletin: Palm Inc.'s Expected Equity Infusion Should Lead To A Stable Outlook $100.00
NEW YORK (Standard&Poor's) Dec. 22, 2008--Palm Inc. announced today that Elevation Partners, already a major investor in the company, has agreed to invest an additional $100 million in the company's convertible preferred stock. The transaction ...
- Palm Inc. $400.00
A good technology base; Some customer loyalty; and Adequate liquidity for near-term needs. A limited product range; High leverage; Market share losses; Significant price pressures; and Negative free cash flows. The ratings on Palm Inc. reflect ...
