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Credit FAQ: The White Book On Spanish Electricity Generation Aug 05
Standard & Poors, August 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: 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.
The white book on the reform of the regulatory framework for electricity generation in Spain was published on July 26, 2005. The book, which is the result of a study carried out by professor Jose Ignacio Perez Arriaga at the Spanish government's request, analyzes the current state of the country's generation market and the existing regulatory framework for end-user tariffs. Its recommendations are nonbinding. Standard & Poor's Ratings Services addresses below some of the questions it has received from investors since the book's publication. The newly elected government was concerned--despite the liberalization of the wholesale and retail markets--about the low level of competition in the generation market and the failings of the system to operate efficiently. In addition, there was...
Companies mentioned in this report are: Endesa S.A.,Iberdrola S.A.,Gas Natural SDG, S.A.,Union Fenosa S.A.,Red Electrica Corporacion S.A.
Endesa S.A.,Iberdrola S.A.,Gas Natural SDG, S.A.,Union Fenosa S.A.,Red Electrica Corporacion S.A.