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BULLETIN: Abertis Infraestructuras 'AA-' Rating Unchanged By IFRS Impact Estimate
Standard & Poors, May 2005
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) May 11, 2005--Standard & Poor's Ratings Services said today that the ratings on Spain-based infrastructure operator Abertis Infraestructuras S.A. (AA-/Negative/--) were unaffected by the company's preliminary estimate of the impact of International Financial Reporting Standards (IFRS). The transition to IFRS does not change underlying cash flows. The most significant impact of the transition is the change from Spanish Accounting Standards on concessions, which mainly allowed the deferral of depreciation (a noncash item), and the capitalization of financial costs, which were already incorporated by Standard & Poor's into the cash flow calculation. GROUP E-MAIL ADDRESS InfrastructureEurope@standardandpoors.com...
Companies mentioned in this report are: Abertis Infraestructuras S.A.
Action: Bulletin
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