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Research Update: SES Global S.A. 'BBB+/A-2' Ratings On CreditWatch Negative As Buys Back GE Capital Stake

Published Feb 14, 2007

1087 words — Published Feb 14, 2007

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

On Feb. 14, 2007, Standard&Poor's Ratings Services placed its 'BBB+/A-2' long- and short-term corporate credit ratings on Luxembourg-based worldwide leading satellite company SES Global S.A. (SES) and related entities on CreditWatch with negative implications, following the company's announcement that it has agreed to buy back GE Capital's 19.5% stake in SES for a combination of €588 million in cash and €652 million in various assets. The CreditWatch placement reflects Standard&Poor's view that the structured transaction will result in an increase in SES' leverage in 2007 to a level significantly above our maximum guidelines for a 'BBB+' rating and the company's own public leverage target of net debt to EBITDA of 3x. Importantly, the group has also

Brief Excerpt:

RESEARCH Research Update: SES Global S.A. '###+/A-2' Ratings On CreditWatch Negative As Buys Back GE Capital Stake Publication date: 14-Feb-2007 Rationale On Feb. 14, 2007, Standard & Poor's Ratings Services placed its '###+/A-2' long-...

Report Type:

Research Update

Ticker

SESG@FP

Issuer

SES S.A.

Sector

Global Issuers, Structured Finance

Country

Luxembourg

Region

United States

Format:

HTML

SES S.A. L-T Rating Cut To 'BBB'; 'A-2' S-T Rating Affirmed; Off Watch Neg; Outlook Stable – 2007/05/10 – US$ 150.00

Research Update: SES S.A. L-T Rating Cut To 'BBB'; 'A-2' S-T Rating Affirmed; Off Watch Neg; Outlook Stable – 2007/05/10 – US$ 225.00

SES S.A. Short-Term Rtg Cut To 'A-3', Outlook Revised To Negative On Financial Policy Change – 2007/08/09 – US$ 150.00

Research Update: SES S.A. Short-Term Rtg Cut To 'A-3', Outlook Revised To Negative On Financial Policy Change – 2007/08/09 – US$ 225.00

Summary: SES S.A. – 2007/09/07 – US$ 225.00

SES Global S.A. 'BBB+/A-2' Ratings On CreditWatch Negative As Buys Back GE Capital Stake – 2007/02/14 – US$ 150.00

SES Global S.A. – 2007/01/05 – US$ 500.00

Summary: SES Global S.A. – 2007/01/05 – US$ 225.00

BULLETIN: SES Global S.A. Ratings And Outlook Unchanged On Announced Share Buyback Plan – 2006/03/22 – Free

Luxembourg Satellite Operator SES Global Affirmed At 'BBB+/A-2'; Off Watch Neg; Outlook Stable – 2006/02/27 – US$ 150.00

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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. "Research Update: SES Global S.A. 'BBB+/A-2' Ratings On CreditWatch Negative As Buys Back GE Capital Stake" Feb 14, 2007. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-SES-Global-S-A-BBB-A-2-Ratings-On-CreditWatch-Negative-As-Buys-Back-GE-Capital-Stake-562126>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: SES Global S.A. 'BBB+/A-2' Ratings On CreditWatch Negative As Buys Back GE Capital Stake Feb 14, 2007. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-SES-Global-S-A-BBB-A-2-Ratings-On-CreditWatch-Negative-As-Buys-Back-GE-Capital-Stake-562126>

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