Moody's affirms ABB

Moody's Investors Service said it affirmed the A2 issuer and senior unsecured as well as the P-1 short term ratings of ABB Ltd. following the offer to acquire 100% of the shares in Thomas & Betts.

The outlook remains stable.

The transaction, valued at around US$3.9 billion enterprise value, is recommended by Thomas & Betts' board of directors and management, but remains subject to approval by Thomas & Betts' shareholders as well as to customary regulatory approvals. The closing is expected by the middle of 2012.

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