Research Update: French Toll-Road Operator Sanef Affirmed At 'A/A-1'; Off CreditWatch Negative; Outlook Stable
- ID: 1712946
- April 2006
- Region: France
- Standard & Poors
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
On April 11, 2006, Standard & Poor's Ratings Services affirmed its 'A/A-1' long- and short-term corporate credit ratings on French toll-road operator Sanef. At the same time, the ratings were removed from CreditWatch with negative implications, where they had been placed on Aug. 31, 2005. The outlook is stable. The CreditWatch removal follows further analysis of the impact that Spain-based infrastructure operator Abertis Infraestructuras S.A.'s (A/Stable/--) potential acquisition of some of the Chilean concessions of Actividades de Construcciones y Servicios SA could have on the company's business and financial profile. The rating on Abertis offers some headroom for additional debt-financed acquisitions. The ratings on Sanef are the same as those on Abertis. Since Sanef's privatization in February 2006, Abertis effectively...
Companies mentioned in this report are: Sanef,Abertis Infraestructuras S.A.,Holding d'Infrastructures de Transport S.A.S.
Action: Outlook: Stable
Action: Removed From CreditWatch
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