French Toll-Road Operator Sanef 'BBB/A-2' Ratings Affirmed Following Similar Action On Parent Abertis; Outlook Negative Oct 12
- Language: English
- Published: October 2012
- Region: France
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The long-term corporate credit rating on Abertis Infraestructuras S.A., one of Spain's largest infrastructure operators, was placed on CreditWatch with negative implications on May 21, 2008. The action follows the announcement late on May 19, 2008, that a consortium led by Abertis (with a 50% stake) has been named the preferred bidder of the Pennsylvania Turnpike (PTPK) concession, the largest U.S. toll-road tender ever. The transaction must still be approved, however, by the Pennsylvania state legislature. The CreditWatch listing reflects our concerns about and lack of visibility on Abertis' forward-looking credit protection metrics, which could deteriorate to levels no longer compatible with an 'A' category rating, depending on how Abertis would finance its equity stake in the PTPK and on...
Companies mentioned in this report are: Abertis Infraestructuras S.A.,Sanef
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Abertis Infraestructuras S.A.,Sanef