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Industry Report Card: EMEA's Investment-Grade Telecoms Operators To Remain Resilient In 2009, Despite The Bleak Economic/Financial Outlook Feb 09
Standard & Poors, Feb 2009
Abstract
Slightly different from Standard & Poor's Ratings Services' previous report cards on the largest telecommunications and satellite operators in the EMEA region (Europe, the Middle East, and Africa), the current report card focuses on the region's investment-grade operators and therefore excludes Danish operator TDC A/S, BCM Ireland Finance Ltd., and France-based Eutelsat S.A. We have changed the statistics accordingly so that they remain comparable. Since our last report card on EMEA's largest telecommunications and satellite operators on July 1, 2008, our portfolio of investment-grade issuers has weathered fairly well--though not without some casualties--the unparalleled financial turbulence and deteriorating economic conditions affecting the global markets. During the interval, most of our rated investment-grade operators have succeeded in maintaining good profitability and...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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