Standard & Poor's cuts Singer rating

Article Abstract:

Singer Co. NV, the sewing machine manufacturer based in the Netherlands Antilles, saw its debt rating lowered to single-B-minus from single-B-plus by Standard & Poor's. The lower rating mirrors the company's dismal financial performance in the past three years and continuing uncertainty about the company's two principal markets, Brazil and Asia, said analyst Blaise Ganguin. The rating action took into account the restructuring program announced by chairman James Ting in December 1997. The restructuring called for the elimination of about 30% of the company's workforce, or 6,000 jobs.

Comment:

Saw its debt rating lowered to single-B-minus from single-B-plus by Standard & Poor's

Financial analysis, Sewing Machines, Other Major Household Appliance Manufacturing, Netherlands Antilles, Singer Company N.V.(Netherlands Antilles)

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Husky to expand Sask. upgrader

Article Abstract:

Husky Oil Ltd. is planning an expansion valued at C$500 million at its heavy oil upgrader located in Lloydminister, Saskatchewan, to boost capacity by over twofold to 150,000 barrels a day. The move will create approximately 1,450 person-years of employment in the construction phase from 1999 to 2001. Husky maintained that the decision to proceed with the major expansion was taken with a long-term view of oil prices. Husky took full-control of the heavy oil upgrader following ist buy of a 50% interest of Saskatchewan's government for C$310 million in February 1998.

Comment:

Plans a C$500-mil expansion at heavy oil upgrader in Lloydminister to boost capacity by over twofold to 150,000 barrel a day

Petroleum Refineries, Expanded capacity, plant expansion, Petroleum Refining, Saskatchewan, Husky Oil Ltd.

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Failure rate remains in double digits: Coolbrands leads firms who fail to get passing grade in annual ROB scorecard

Article Abstract:

Eleven percent of companies included in the annual report on business ranking of corporate governance in Canada failed to receive a passing grade for their corporate governance, scoring lower than 50 marks out of 100 in the review. The failure rate has improved since the Report on Business (ROB) first did its review in 2002, there remains a core of companies with little apparent interest in making significant reforms.

Canada, Corporate governance, Rankings, Report on Business (Periodical)

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