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Ratings on British American Tobacco and Rothmans Raised Following Completion of Merger

Published Jun 08, 1999

980 words — Published Jun 08, 1999

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Abstract:

LONDON (Standard&Poor's CreditWire) June 8, 1999--Standard&Poor's today announced that, following the completion of British American Tobacco PLC's (BAT) merger with Rothmans International BV (NL) (Rothmans), it has raised its long-term ratings to single-'A' from single-'A'-minus, and its short-term ratings to 'A-1' from 'A-2' on the enlarged BAT Group and subsidiaries. The outlook is stable. BAT has guaranteed Rothmans debt. All the ratings have been removed from CreditWatch, where they were placed on Jan. 11, 1999, with positive implications. Although Rothmans' debt is structurally subordinated for a period of time, Standard&Poor's expects this situation to be resolved within six months, when cross guarantees are expected to be put in place. (See list below for all

Brief Excerpt:

RESEARCH Ratings on British American Tobacco and Rothmans Raised Following Completion of Merger Publication date: 08-Jun-1999 LONDON (Standard & Poor's CreditWire) June 8, 1999--Standard & Poor's today announced that, following the completion...

Report Type:

Ratings Action

Ticker

BATS@LN

Issuer

British American Tobacco PLC

GICS

Tobacco (30203010)

Sector

Global Issuers, Structured Finance

Country

United Kingdom

Region

United States

Format:

PDF

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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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MLA:	S&P Global Ratings’ Credit Research. "Ratings on British American Tobacco and Rothmans Raised Following Completion of Merger" Jun 08, 1999. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-on-British-American-Tobacco-and-Rothmans-Raised-Following-Completion-of-Merger-106905>

APA:	S&P Global Ratings’ Credit Research. (). Ratings on British American Tobacco and Rothmans Raised Following Completion of Merger Jun 08, 1999. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-on-British-American-Tobacco-and-Rothmans-Raised-Following-Completion-of-Merger-106905>

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