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S&P Credit Research1259 word report
published Aug 12, 2008
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S&P Credit Research
| Abstract: | On Aug. 12, 2008, Standard&Poor's Ratings Services revised its outlook to negative from stable on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC. At the same time, Standard&Poor's affirmed its 'BBB' long-term corporate credit rating on Tate&Lyle. The short-term corporate credit rating was lowered to 'A-3' from 'A-2' as a result of the outlook revision. The outlook revision reflects the deterioration of the company's financial metrics as evidenced by Tate&Lyle's adjusted debt to EBITDA of 3.8x in fiscal 2008, a ratio that is weak for the rating level. At March 31, 2008, reported net debt increased by £141 million (or 16%) to £1.041 billion. The fiscal year to March
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Tate & Lyle Outlook To Negative On Weakened Financial Metrics; '###' Long-Term Rating Affirmed Publication date: 12-Aug-2008 Primary Credit Analyst: Diego Festa, London (44) 20-7176-3899;...
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| Report Type: | Research Update
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| Ticker: | TATE@LN
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| Issuer: | Tate&Lyle PLC
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| GICS: | Packaged Foods & Meats (30202030)
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| Sector: | Consumer Products, Corporations, Global Issuers
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| Country: | United Kingdom
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| Region: | Europe, Middle East, Africa
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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.
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- Tate&Lyle PLC $400.00
Leading competitive position in the U.S. starch industry. Continued focus on higher-value-added ingredients. Commodity nature of bulk of production volume in basic cereal sweeteners and starches. Constant need for innovation to sustain adequate ...
- Summary: Tate&Lyle PLC $175.00
The ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC reflect the company's leading positions in its main markets and increased emphasis on higher-value-added products. These strengths are tempered, however, ...
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- Summary: Tate&Lyle PLC $175.00
The ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC reflect the company's leading positions in its main markets and increased emphasis on higher-value-added products. These strengths are tempered, however, ...
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Increasing focus on higher-value-added categories Satisfactory mix of businesses Leading competitive position in the U.S. starch industry Constant need for innovation to sustain adequate proportion of value-added products Commodity nature of ...
- Tate&Lyle Outlook To Negative On Weakened Financial Metrics; 'BBB' Long-Term Rating Affirmed $100.00
LONDON (Standard&Poor's) Aug. 12, 2008--Standard&Poor's Ratings Services said today it revised its outlook to negative from stable on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC. At the same time, Standard&Poor's ...
- Summary: Tate&Lyle PLC $175.00
The ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC reflect the company's leading positions in its main markets and growing focus on higher-value-added products. These strengths are tempered, however, by ...
