Briefs: S&P revises down Ericsson outlook

Oct 26, 2005

Standard & Poor's revised down Wednesday its outlook for Swedish telecommunications group Ericsson to stable from positive.

The credit-rating agency said the downgrade was due to Ericcson's decision Tuesday to buy 75 percent of the assets of telecom group Marconi.

"Although Standard & Poor's acknowledges the strategic rationale for the Marconi transaction in the context of the medium-to-long-term expected developments in the industry, we note that the assets to be acquired will initially weaken Ericsson's earnings and cash flow generation and significantly increase its exposure to the weak wire-line telecoms equipment sector," credit analyst Leandro De Torres said in a news release.

Copyright 2005 by United Press International

Explore further: Greenland darkening to continue, predicts CCNY expert Marco Tedesco

Related Stories

For many US teachers, the classroom is a lonely place

15 hours ago

One of the best ways to find out how teachers can improve their teaching is to ask them. The massive Teaching and Learning International Survey (TALIS) did just that and the answers offer crucial insights for teachers, school ...

Recommended for you

'Map spam' puts Google in awkward place

1 hour ago

Google was re-evaluating its user-edited online map system Friday after the latest embarrassing incident—an image of an Android mascot urinating on an Apple logo.

Team develops faster, higher quality 3-D camera

1 hour ago

When Microsoft released the Kinect for Xbox in November 2010, it transformed the video game industry. The most inexpensive 3-D camera to date, the Kinect bypassed the need for joysticks and controllers by ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.