MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said its
'BB-' ratings and stable outlook on New Jersey-based defence company DRS
Technologies Inc. are not immediately affected by the group's acknowledgement
that it is in discussions regarding a potential strategic transaction.
If a definitive transaction were to be announced, S&P said it would evaluate
the effect on DRS Technologies' credit quality and may place the ratings on
creditwatch.
The implications, either positive or negative, would be determined by the
financial strength of the acquirer and the terms of the transaction, the ratings
agency said.
On May 8, Finmeccanica SpA declined to comment on a report in the Wall
Street Journal that it is in advanced talks to acquire DRS Technologies.
TFN.newsdesk@thomson.com
npr/man
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|