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Bulletin: Ratings On Abertis And French Subsidiaries Unaffected By News Of Potential Business Reorganization
Standard & Poors, Feb 2011
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
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.
Action: Bulletin
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