Research Update: Spanish Utility Endesa 'A-' Long-Term Rating Placed On CreditWatch Negative Following Similar Action On Parent Enel Dec 11
- Language: English
- Published: December 2011
- Region: Spain
MILAN (Standard & Poor's) March 23, 2007--Standard & Poor's Ratings Services said today that its ratings and outlook on Italian utility Enel SpA (A+/Negative/A-1) are not immediately affected by the announcement that the company is in advanced negotiations with Spanish construction company Acciona S.A. regarding the possible launch of a joint tender offer for 100% of Spanish utility Endesa S.A. (A/Watch Neg/A-1). Enel currently owns about 10% of Endesa and has options to reach about 25% once certain regulatory approvals have been obtained. Together with Acciona's 21%, this leads to a prospective joint ownership interest of about 46%. No details on the potential bid have been released at this stage; Enel has only stated that its launch would be conditional...
Companies mentioned in this report are:
- Endesa S.A.
- E.ON SE
- Enel SpA
Action: General Comment
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
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