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Bulletin: Utilities Endesa S.A., Enel SpA, And E.ON AG Ratings Unchanged On Completion Of Asset Sales
Standard & Poors, June 2008
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
MADRID(Standard & Poor's) June 26, 2008--Standard & Poor's Ratings Services said today that its ratings and outlooks on Spanish utility Endesa S.A. (A-/Negative/A-2), Italian utility Enel SpA (A-/Negative/A-2), and German utility E.ON AG (A/Stable/A-1) remain unchanged following the completion of Endesa's and Enel's asset sales to E.ON. The ratings on the three companies already take into account these disposals, which were agreed to by Enel, E.ON, and Spanish construction company Acciona as part of Enel and Acciona's joint purchase of Endesa. The total transaction value is approximately -11.5 billion, including the debt (equivalent to about -1.8 billion) transferred with the companies that were sold and net of minority stakes. The assets sold include Endesa Europe S.A., Spanish power plants with...
Companies mentioned in this report are: Enel SpA,Endesa S.A.,E.ON AG
Action: Bulletin
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