Bulletin: Ratings On Abertis And French Subsidiaries Unaffected By News Of Potential Business Reorganization
- ID: 1714173
- February 2011
- Region: France
- Standard & Poors
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Research type: News
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MADRID (Standard & Poor's) Feb. 24, 2011--Standard & Poor's Ratings Services said today that its ratings and outlooks on Spanish infrastructure operator Abertis Infraestructuras S.A. (Abertis) and its French subsidiaries Holding d'Infrastructures de Transport S.A.S. and Sanef (all rated BBB+/Stable/--) are not immediately affected by the news of a possible transfer of the group's car park and logistics activities to a new unlisted company. We view Abertis' car park and logistics divisions--which contribute 4.6% of consolidated revenues and 3.5% of consolidated EBITDA--as having a weaker business risk profile than the group's core toll road business. Therefore, if Abertis were to reduce its participation in these activities, we would continue to view the group's overall business risk profile as excellent. Furthermore,...
Companies mentioned in this report are: Abertis Infraestructuras S.A.,Sanef,Holding d'Infrastructures de Transport S.A.S.