The Spanish Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: November 2011
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
The 'AA-' long-term rating on Red El-ctrica Corporaci-n S.A. and its subsidiary Red El-ctrica de Espa-a S.A.U. (together, REE) is based on REE's stand-alone credit profile (SACP), which Standard & Poor's Ratings Services assesses at 'AA-', as well as on our opinion that there is a "moderately high" likelihood that the Spanish government (Kingdom of Spain, AA+/Negative/A-1+) would provide timely and sufficient extraordinary support to REE in the event of financial distress. REE is Spain's electricity system operator and owner of the bulk of the country's electricity transmission grid assets. In accordance with our criteria for government-related entities (GREs), our view of a "moderately high" likelihood of extraordinary government support is based on our assessment of REE's: "Very important" role...
Companies mentioned in this report are: Red Electrica Corporacion S.A.,Red Electrica de Espana S.A.U.
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Red Electrica Corporacion S.A.,Red Electrica de Espana S.A.U.
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