Autoliv: S&P and Moody's Announce Autoliv Credit Rating.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--June 6, 2000 S&P and Moody's Announce Autoliv Credit Rating The rating agency Standard & Poor's has today for the first time issued corporate credit ratings for Autoliv Inc. Both Standard & Poor's and Moody's have also reaffirmed the ratings of the US commercial paper (USCP USCP United States Capitol Police USCP Unicos Station Call Processor USCP United States Commercial Paper USCP University Short Course Programme ) program. New ratings: Long-term Short-term Outlook Short-term Nordic scale S&P BBB+ A-2 Stable K-1 Affirmed ratings: Subsidiary level: Autoliv ASP Inc's CP program S&P A-2 Moody's P-2 The rationale rationale (rash´  nal´),n the fundamental reasons used as the basis for a decision or action. behind the rating process for Autoliv is to access further financing instruments in the debt capital markets. It increases Autoliv's financial flexibility and is a foundation for a cost efficient financing of the Group in the future. The long-term rating also provides Autoliv with new possibilities to term out part of the debt. Autoliv has mandated a major Swedish bank, SEB Noun 1. SEB - a form of staphylococcal enterotoxin that has been used as an incapacitating agent in biological warfare staphylococcal enterotoxin B , as lead bank for a domestic medium term note program of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 4 billion, (approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 440 million), with ABN-AMRO, SEB, and Svenska Handelsbanken as dealers. Autoliv has also mandated another major Swedish bank, Svenska Handelsbanken as lead bank for a domestic commercial paper program of SEK 4 billion with SEB and Svenska Handelsbanken as dealers. Both programs have Euro-options and constitute a good complement source of financing to the USCP program of USD 850 million, which has been in place since 1997. Autoliv expects to launch inaugural issues in the two programs during the latter part of June. Autoliv had a net debt of USD 619 million at March 31, 2000 which corresponds to a net-debt-to-equity of 32%. The net debt has since increased by about 50% as a result of the OEA OEA Organizacion de Estados Americanos (OAS in English) OEA Organização dos Estados Americanos (Portuguese: Organization of American States) OEA Office of The Employment Advocate Inc. acquisition. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/06/06/20000606BIT00760/bit0001.doc http://www.bit.se/bitonline/2000/06/06/20000606BIT00760/bit0002.pdf |
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