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Abertis Affirmed At 'A-' On Shift To More Conservative Acquisition Policy; Outlook Still Negative
Standard & Poors, April 2009
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) April 24, 2009--Standard & Poor's Ratings Services said today that it affirmed its 'A-' long-term corporate credit rating on Abertis Infraestructuras S.A., one of Spain's largest infrastructure operators. The outlook remains negative. 'The affirmation reflects an expected improvement in Abertis' financial risk profile after the company publicly announced it was moving toward a period of consolidation with no material acquisitions,' said Standard & Poor's credit analyst Jose Ramon Abos. In our view, the company has shifted to a more conservative financial policy as a result of this announcement. We expect that the absence of major acquisitions, together with the contributions from recently acquired brownfield projects and the relatively high tariff increases in 2009 in Spain and...
Companies mentioned in this report are: Abertis Infraestructuras S.A.
Action: Affirmed
Action: Outlook: Negative
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