Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research SES S.A.

SES S.A. Short-Term Rtg Cut To 'A-3', Outlook Revised To Negative On Financial Policy Change

Published Aug 09, 2007

613 words — Published Aug 09, 2007

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

NEW YORK (Standard&Poor's) Aug. 9, 2007--Standard&Poor's Ratings Services said today it lowered its short-term rating on Luxembourg-based SES S.A. (formerly SES Global S.A.) to 'A-3' from 'A-2' and revised its outlook to negative from stable, following further modification of the satellite company's financial policy. At the same time, Standard&Poor's affirmed its 'BBB' long-term corporate credit rating on SES. "The outlook revision reflects SES' steady shift toward a more aggressive financial policy due to share buybacks," said Standard&Poor's credit analyst Michael O'Brien. "Management's recent decision to revise its target of unadjusted net debt to EBITDA to 3.5x from the 3x-3.5x range is the latest aspect of this transition." However, a leverage of 3.5x

Brief Excerpt:

RESEARCH SES S.A. Short-Term Rtg Cut To 'A-3', Outlook Revised To Negative On Financial Policy Change Publication date: 09-Aug-2007 NEW YORK (Standard & Poor's) Aug. 9, 2007--Standard & Poor's Ratings Services said today it lowered its...

Report Type:

Ratings Action

Ticker

SESG@FP

Issuer

SES S.A.

Sector

Global Issuers, Structured Finance

Country

Luxembourg

Region

United States

Format:

HTML

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

SES S.A. – 2008/02/12 – US$ 500.00

Summary: SES S.A. – 2008/02/12 – US$ 225.00

Summary: SES S.A. – 2008/06/16 – US$ 225.00

Summary: SES S.A. – 2009/01/16 – US$ 225.00

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

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

Research Update: SES Global S.A. 'BBB+/A-2' Ratings On CreditWatch Negative As Buys Back GE Capital Stake – 2007/02/14 – US$ 225.00

More from S&P Global Ratings’ Credit Research

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.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "SES S.A. Short-Term Rtg Cut To 'A-3', Outlook Revised To Negative On Financial Policy Change" Aug 09, 2007. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/SES-S-A-Short-Term-Rtg-Cut-To-A-3-Outlook-Revised-To-Negative-On-Financial-Policy-Change-595577>

APA:	S&P Global Ratings’ Credit Research. (). SES S.A. Short-Term Rtg Cut To 'A-3', Outlook Revised To Negative On Financial Policy Change Aug 09, 2007. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/SES-S-A-Short-Term-Rtg-Cut-To-A-3-Outlook-Revised-To-Negative-On-Financial-Policy-Change-595577>

US$ 150.00

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.