S&P lowers credit rating for Vivendi

Article Abstract:

Vivendi SA was given a negative rating by Standard & Poor's Ratings Group, which mentioned high debt levels and lack of a clear strategy. The conglomerate was downgraded from triple-B-plus to triple-B. The rating will probably not have much impact on funding expenses, but S&P's opinion reflects the extent of investors' recent disapproval of the firm's strategy of spending billions of dollars on increasing its presence in water and waste management, while trying to make itself over as a telecommunications and media company.

Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
France, Financial analysis, Electric, Gas & Water Utilities, Utilities, Evaluation, Energy industries, Energy industry, Public utilities, Vivendi S.A.

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UPS beats expectations; IPO raises $5.47 billion

Article Abstract:

United Parcel Service Inc. has raised $5.47 billion (5.27 billion euros) from its initial public offering (IPO). The company priced 109.4 million shares at $50 per share.

Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
United States, Organizational history, Intercity Trucking, General Freight Trucking, Long-Distance, Trucking, except local, Trucking, Securities, United Parcel Service of America Inc., Long haul trucking

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