S&P Assigns Junk-Level Ratings to Yahoo# Stock
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http://online.wsj.com/news/articles/SB1000142405270230394950457
S&P assigns BB+ rating to Yahoo convertible notes - outlook stable
-- U.S. Internet company Yahoo! Inc. has issued $1.25 billion of 0%
convertible senior notes due 2018.
-- We assess Yahoo's business risk profile as "fair," based on our view
of the company's competitive position and good profitability. We assess
Yahoo's financial risk profile as "modest," based on its minimal debt
leverage.
-- We are assigning to Yahoo a 'BB+' corporate credit rating. At the same
time, we are assigning a 'BB+' issue-level rating and '3' recovery rating to
the $1.25 billion convertible notes.
-- The stable outlook is based on our expectation that operating
performance will continue to stabilize and debt leverage will remain minimal
over the projected period.
S&P assigns BB+ rating to Yahoo convertible notes - outlook stable
-- U.S. Internet company Yahoo! Inc. has issued $1.25 billion of 0%
convertible senior notes due 2018.
-- We assess Yahoo's business risk profile as "fair," based on our view
of the company's competitive position and good profitability. We assess
Yahoo's financial risk profile as "modest," based on its minimal debt
leverage.
-- We are assigning to Yahoo a 'BB+' corporate credit rating. At the same
time, we are assigning a 'BB+' issue-level rating and '3' recovery rating to
the $1.25 billion convertible notes.
-- The stable outlook is based on our expectation that operating
performance will continue to stabilize and debt leverage will remain minimal
over the projected period.