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: Sony hacking fallout puts all companies on alert

add to favorites email to friend print save as pdf

Related Stories

Recommended for you

Sony hacking fallout puts all companies on alert

25 minutes ago

Companies across the globe are on high alert to tighten up network security to avoid being the next company brought to its knees by hackers like those that executed the dramatic cyberattack against Sony Pictures ...

Ear-check via phone can ease path to diagnosis

1 hour ago

Ear infections are common in babies and young children. That it is a frequent reason for young children's visit to doctors comes as no consolation for the parents of babies tugging at their ears and crying ...

Timeline of the Sony Pictures Entertainment hack

2 hours ago

It's been four weeks since hackers calling themselves Guardians of Peace began their cyberterrorism campaign against Sony Pictures Entertainment. In that time thousands of executive emails and other documents ...

Two more former Sony workers sue over data breach

2 hours ago

Two more former employees of Sony Pictures Entertainment are suing the company over the massive data breach in which their personal and financial information was stolen and posted online.

Files of more than 40,000 federal workers breached (Update)

3 hours ago

The computer files of more than 40,000 federal workers may have been compromised by a cyberattack at federal contractor KeyPoint Government Solutions, the second breach this year at a major firm handling national security ...

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.