Three Czech Utilities Affirmed and CEZ Outlook Revised to Stable After Privatization Cancelled Jan 02
Standard & Poors, January 2002
Abstract
STOCKHOLM (Standard & Poor's) Jan. 10, 2002--Following yesterday's cancellation of the planned privatization of the Czech electricity industry, Standard & Poor's today affirmed all issuer credit ratings on Czech utilities CEZ A.S. (BBB+/--), Severomoravska Energetika A.S. (SME; BBB/A-2), and Zapadoceska Energetika A.S. (ZCE; A-/A-2). The triple-'B'-plus senior unsecured debt rating on CEZ-guaranteed entity CEZ Finance B.V. was also affirmed. The potential impact of the privatization has not been factored into the current ratings, and the affirmation reflects the fact that Standard & Poor's opinion on the stand-alone credit quality of the companies concerned is unaffected by the cancellation. The outlook on CEZ is, however, revised to stable from positive, mainly to reflect an expected weakening of Czech electricity wholesale prices....
Companies mentioned in this report are: CEZ a.s.,Electricite de France S.A.,Iberdrola S.A.,Severomoravska Energetika a.s.,Zapadoceska Energetika a.s.,Enel SpA
Action: Various Rating Actions
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.
CEZ a.s.,Electricite de France S.A.,Iberdrola S.A.,Severomoravska Energetika a.s.,Zapadoceska Energetika a.s.,Enel SpA
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