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S&P Credit Research1409 word report
published Feb 09, 2009
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S&P Credit Research
| Abstract: | On Feb. 9, 2008, Standard&Poor's Ratings Services lowered to 'BBB-' from 'BBB' its long-term corporate credit ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC and on guaranteed related entity Tate&Lyle International Finance PLC. At the same time, the group's 'A-3' short-term corporate credit rating was affirmed. The outlook remains negative. The rating actions reflect Standard&Poor's view that the deepening consumer downturn, and the recent weakening of Tate&Lyle's reporting currency of British pound sterling against its major debt currency of U.S. dollar, will affect Tate&Lyle's operating performance and financial risk profile beyond our initial expectations. In particular, the leverage and covenant headroom are the main cause
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Tate & Lyle PLC L-T Ratings Lowered To '###-' On High Financial Leverage; 'A-3' S-T Rating Affirmed; Outlook Negative Publication date: 09-Feb-2009 Primary Credit Analyst: Diego Festa,...
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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.
Also from S&P Credit Research
- 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, ...
- Tate&Lyle PLC L-T Ratings Lowered To 'BBB-' On High Financial Leverage; 'A-3' S-T Rating Affirmed; Outlook Negative $100.00
LONDON (Standard&Poor's) Feb. 9, 2008--Standard&Poor's Ratings Services said today it lowered to 'BBB-' from 'BBB' its long-term corporate credit ratings on U.K.-based cereal sweetener, starch, and sugar manufacturer Tate&Lyle PLC and on guaranteed ...
- 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, ...
- Tate&Lyle PLC $400.00
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 ...
- Research Update: Tate&Lyle Outlook To Negative On Weakened Financial Metrics; 'BBB' Long-Term Rating Affirmed $175.00
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 ...
- 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 ...
