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Alstom (Baa3): Asset Sale Progressing

CAPITAL GOODS


Important step to help shore up the IG rating. Spreads have room to the upside if the downgrade is avoided.
• Bloomberg reports at least 3 bidders looking at rail-signalling unit.• Business is valued at around $600mn.• Company is targeting €1bn asset sales, so this would be a significant piece of that.

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