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Abertis 'A-' Rating Still On Watch Neg Re Bid Extension For Pennsylvania Turnpike Concession
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 'A-' long-term corporate credit rating on Abertis Infraestructuras S.A., one of Spain's largest infrastructure operators, remains on CreditWatch with negative implications following the Abertis-led consortium's 30-day extension of its preferred bid for the Pennsylvania Turnpike (PTPK) concession. The bid was initially due to expire on June 20, 2008. Standard & Poor's placed the rating on CreditWatch on May 21, 2008, following the announcement that a consortium led by Abertis (with a 50% stake) had been named preferred bidder for the PTKP, the largest U.S. toll-road tender ever. The transaction must still be approved, however, by the Pennsylvania legislature. The Pennsylvania House of Representatives voted on...
Companies mentioned in this report are: Abertis Infraestructuras S.A.
Action: CreditWatch Update
Action: On CreditWatch:Negative
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