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'AA-' Rating Assigned to Spain-Based Abertis Infraestructuras S.A.; Outlook Stable
Standard & Poors, Sep 2004
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
MADRID (Standard & Poor's) Sept. 10, 2004--Standard & Poor's Ratings Services said today that it has assigned its 'AA-' long-term corporate credit rating to Abertis Infraestructuras S.A., one of Spain's largest toll road and telecommunications infrastructure operators. The outlook is stable. 'The rating is supported by the company's strong and stable cash flow generation, which is derived mainly from its mature toll road concession business,' said Standard & Poor's credit analyst Lidia Polakovic. 'It also reflects a supportive regulatory framework, low construction risk, and manageable future capital-expenditure needs.' Abertis' key credit strength is its operation of a toll road network extending more than 1,500 km and representing about 63% of the Spanish total. The above strengths are offset by Abertis'...
Companies mentioned in this report are: Abertis Infraestructuras S.A.
Action: New Rating
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