Credit FAQ: How Sovereign Credit Quality Affects Our Ratings On European Toll Road Network Operators Oct 12
- Language: English
- Published: October 2012
- Region: Europe
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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.
Abertis Infraestructuras S.A.,Sanef,Holding d'Infrastructures de Transport S.A.S.