TEXT-Fitch:No immediate rtg impact on Michelin from Hankook sale


(The following statement was released by the rating agency) Nov 09- Fitch Ratings says that Michelin's planned disposal of its 9.98% stake in Korea's leading tyre manufacturer, Hankook Tire , has no immediate impact on Michelin's rating ('BBB'/Positive). From a financial perspective, the impact of the Hankook sale on Michelin's leverage metrics will be moderate in view of the group's net debt of EUR2.5bn at end-2010. Fitch expects the disposal proceeds to amount to EUR425m, if the entire ...

Premium Content (PAID Subscription Required)

"TEXT-Fitch:No immediate rtg impact on Michelin from Hankook sale" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!

For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: lwilliamson@wardsauto.com or phone: (248) 799-2642

Current subscribers, please login or CLICK for support information.

Already registered? here.


Follow Us

Sponsored Introduction Continue on to (or wait seconds) ×