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BULLETIN: Endesa S.A. and Iberdrola S.A. Merger Approved by Spanish Government Feb 01
Standard & Poors, Feb 2001
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
Corporate Credit Ratings: Endesa S.A. A+/Watch Pos/A-1 Iberdrola S.A. AA-/Watch Neg/A-1+ Standard & Poor's today said that the ratings on the Spanish electricity utilities, Endesa S.A. and Iberdrola S.A., will remain on CreditWatch following the Spanish government's approval of the merger between the two entities. The conditions imposed by the government limit the generation capacity of the new group to 41% of the domestic market, distribution to 48%, and supply to 40%. The asset disposals will be carried out through public auction and not asset swaps over the next 14 months, and should attract at least two new players to the market. The credit quality of the new entity will depend mainly on the use of proceeds from asset disposals...
Companies mentioned in this report are: Endesa S.A.,Iberdrola S.A.
Action: S&P Event
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