The Spanish Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
- Language: English
- 158 Pages
- Published: July 2012
- Region: Spain
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: Full Analysis
Monopoly position. Supportive regulatory framework with predictable regulated cash flows. Strategic importance for the Spanish government's energy and economic policy. Negative free cash flow generation resulting from a sizable capital-expenditure program. Uncertainties on the assets to be acquired by law. 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. (AA-/Stable/A-1+) (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 its opinion that there is a "moderately high" likelihood that the 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...
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.