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Abertis Infraestructuras And French Subsidiaries HIT And Sanef 'BBB+' Ratings Affirmed And Off Watch; Outlook Stable
Standard & Poors, Aug 2010
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
Abertis' second-largest shareholder, ACS, has reportedly arrived at an agreement with private equity firm CVC Capital Partners, following which CVC and ACS will indirectly hold 15.49% and 10.34% respectively of Abertis' share capital through two vehicles, in which CVC and ACS will have 60% and 40% of voting rights respectively. Criteria intends to remain the reference shareholder of Abertis. We do not expect Abertis' strategy or financial policy to be materially affected by the reported change in ownership. We are affirming our 'BBB+' ratings on Abertis and its French subsidiaries HIT and Sanef and removing them from CreditWatch negative. The stable outlook reflects our view that Abertis' strategy and financial policies will not materially change and that Abertis will likely...
Companies mentioned in this report are: Abertis Infraestructuras S.A.
Action: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch
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