Sun Microsystems Inc. CreditWatch Placement Revised To Positive From Developing - S&P Global Ratings’ Credit Research

Sun Microsystems Inc. CreditWatch Placement Revised To Positive From Developing

Sun Microsystems Inc. CreditWatch Placement Revised To Positive From Developing - S&P Global Ratings’ Credit Research
Sun Microsystems Inc. CreditWatch Placement Revised To Positive From Developing
Published Apr 20, 2009
Published Apr 20, 2009
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Abstract:

NEW YORK (Standard&Poor's) April 20, 2009--Standard&Poor's Ratings Services said today that it revised its CreditWatch listing, including that for its 'BB+' corporate credit rating, on Santa Clara, Calif.-based Sun Microsystems Inc. to CreditWatch with positive implications from CreditWatch with developing implications. "The CreditWatch revision follows the announced $7.4 billion acquisition of Sun by Redwood Shores, Calif.-based Oracle Corp. (A/Stable/A-1)," said Standard&Poor's credit analyst Philip Schrank. Net of Sun's cash and debt, the transaction is valued at $5.6 billion. The transaction is expected to close this summer, pending regulatory approval. If Sun's rated debt remains outstanding, we will likely equalize the ratings with those for Oracle.

  
Report Type:

Ratings Action

Ticker
JAVA
Issuer
Oracle America Inc.
GICS
Computer Hardware (45202010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Region
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Sun Microsystems Inc. CreditWatch Placement Revised To Positive From Developing" Apr 20, 2009. Alacra Store. Oct 21, 2017. <http://www.alacrastore.com/s-and-p-credit-research/Sun-Microsystems-Inc-CreditWatch-Placement-Revised-To-Positive-From-Developing-716597>
  
APA:
S&P Global Ratings’ Credit Research. (). Sun Microsystems Inc. CreditWatch Placement Revised To Positive From Developing Apr 20, 2009. New York, NY: Alacra Store. Retrieved Oct 21, 2017 from <http://www.alacrastore.com/s-and-p-credit-research/Sun-Microsystems-Inc-CreditWatch-Placement-Revised-To-Positive-From-Developing-716597>
  
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