Bulletin: Controladora Mabe Ratings Not Immediately Affected By GE's Announcement To Sell Its Appliance Business To Haier Group

MEXICO CITY (Standard&Poor's) Jan. 15, 2016--Standard&Poor's Ratings Services said today that its ratings and outlook on Controladora Mabe, S.A. de C.V. (Mabe; BB+/Positive/--) are not immediately affected following General Electric Co.'s (GE; AA+/Negative/A-1+) announcement of the sale of its appliance business to Haier Group, including GE's 48.41% equity interest in Mabe. The acquisition is subject to regulatory and anti-trust approvals and could take some time to materialize. If the transaction is completed, we will evaluate the potential implications for Mabe, including any changes in the company's business strategy, growth opportunities in other markets, likely operating efficiencies, and financial policy. We would also evaluate any effect on the terms and conditions under Mabe's senior unsecured notes.

...MEXICO CITY (Standard & Poor's) Jan. 15, 2016--Standard & Poor's Ratings Services said today that its ratings and outlook on Controladora Mabe, S.A. de C.V. (Mabe; ##+/Positive/--) are not immediately affected following General Electric Co.'s (GE; ##+/Negative/A-1+) announcement of the sale of its appliance business to Haier Group, including GE's 48.41% equity interest in Mabe. The acquisition is subject to regulatory and anti-trust approvals and could take some time to materialize. If the transaction is completed, we will evaluate the potential implications for Mabe, including any changes in the company's business strategy, growth opportunities in other markets, likely operating efficiencies, and financial policy. We would also evaluate any effect on the terms and conditions under Mabe's senior unsecured notes. We have determined, based solely on the developments described herein, that no rating actions are currently warranted. Only a rating committee may determine a rating action and,...

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