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Abertis Affirmed At 'A-' On Agreement To Acquire Itinere Assets; Outlook Still Negative
Standard & Poors, Dec 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) Dec. 4, 2008--Standard & Poor's Ratings Services said today that it affirmed its 'A-' long-term corporate credit rating on Abertis Infraestructuras S.A. after the announcement, on Dec. 1, 2008, of an agreement by which Abertis would acquire several assets from Itinere (not rated), the concession arm of Spain-based construction, energy and concession group Sacyr Vallehermoso, S.A (Sacyr, not rated). 'The ratings incorporate limited headroom for debt-financed acquisitions, which this transaction will use up,' said Standard & Poor's credit analyst Jose Ramon Abos. The transaction, which is contingent upon authorization from local authorities and the concessions' lenders, consists of the acquisition by Abertis of 50% of Spain-based Autopista Vasco Aragonesa S.A. (AVASA), 50% of Chilean Rutas del...
Companies mentioned in this report are: Abertis Infraestructuras S.A.
Action: Affirmed
Action: Outlook: Negative
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