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Alstom (ALOFP: Baa3 neg): Capital Increase Results

CREDIT UPDATE

Alstom said it raised around 1 billion euros ($1.08 billion) in its share capital increase." - Dow Jones

"The fundraising is the final step of Alstom's EUR2 billion deleveraging plan which also includes two asset divestments and a hybrid bonds placement which will go toward paying off debts by September."


The next step for Alstom is to achieve an IG rating from S&P.


ALOFP 5.875% PerpNC5.25 has rallied 1pt since launch: a rally of -20bps to z+273

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