Research Update: Holding d'Infrastructures de Transport 'A-' Rating On Watch Neg, Re Abertis Leverage Concerns May 08
- ID: 1713393
- May 2008
- 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 May 21, 2008, Standard & Poor's Ratings Services placed its 'A-' long-term corporate credit rating on France-based Holding d'Infrastructures de Transport S.A.S. (HIT), the holding company of French toll road operator Sanef (A-/Watch Neg/A-2), on CreditWatch with negative implications. The action reflects our CreditWatch listing today of parent company Abertis Infraestructuras S.A. (A-/Watch Neg/--) following the announcement on the evening of May 19, 2008, that a consortium led by Abertis has been named preferred bidder of the Pennsylvania Turnpike (PTPK) concession--the largest U.S. toll road concession ever. The transaction must still be approved, however, by the Pennsylvania state legislature. For full details on our rating action today on Abertis, please see our Research Update "Spanish Abertis Infraestructuras S.A. 'A-'...
Companies mentioned in this report are: Holding d'Infrastructures de Transport S.A.S.,Abertis Infraestructuras S.A.,Sanef,HIT Finance B.V.
Action: On CreditWatch:Negative
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