F and P Finance credit rating may be raised by S and P on Haier’s takeover of parent

Thu, 13 Sep 2012

Sept 13 (BusinessDesk) - Fisher & Paykel Finance’s credit rating could be raised one notch to BB+ by Standard & Poor’s because a takeover of parent Fisher & Paykel Appliances by China’s Haier is likely to bolster its credit profile. Haier has offered $1.20 a share for the 80 percent of FPA it doesn’t already own and has agreement from Allan Gray Australia to sell its 17.46 percent into the offer, giving Haier an interest in 37.46 percent. It wants a minimum 50 percent of the company, ensuring control, for its offer to succeed. “We believe th...

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