BN 06/22 15:51 *S&P DOWNGRADES VALLOUREC TO 'BB+/B'; OUTLOOK STABLE
Vallourec Ratings Cut to Junk by S&P
2015-06-22 15:53:49.826 GMT
By Karen Mielcarek
(Bloomberg) -- The downgrade reflects view that Vallourec’s
EBITDA and profitability will weaken and not be commensurate
with a BBB- rating in 2015-2016, S&P says.
* Vallourec’s core oil and gas end market will remain subdued
for several quarters: S&P
* Ratings cut to BB+/B from BBB-/A-3 with stable outlook
Link to Statement:Link
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To contact the editor responsible for this story:
Karen Mielcarek at +1-302-661-7609 or
kmielcarek@bloomberg.net
2015-06-22 15:53:49.826 GMT
By Karen Mielcarek
(Bloomberg) -- The downgrade reflects view that Vallourec’s
EBITDA and profitability will weaken and not be commensurate
with a BBB- rating in 2015-2016, S&P says.
* Vallourec’s core oil and gas end market will remain subdued
for several quarters: S&P
* Ratings cut to BB+/B from BBB-/A-3 with stable outlook
Link to Statement:Link
Link to Company News:{VK FP <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Karen Mielcarek at +1-302-661-7609 or
kmielcarek@bloomberg.net