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Acea Assigned 'AA-' Long-Term and 'A-1+' Short-Term Ratings; Outlook Stable
Standard & Poors, Jan 1999
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
PARIS (Standard & Poor's CreditWire) Jan. 29, 1999--Standard & Poor's today assigned its double-'A'-minus long-term and 'A-1'-plus short-term corporate credit ratings to Acea SpA. The outlook is stable. Ratings reflect: -- Acea's exceptionally strong business profile as Italy's leading water utility and second-largest electricity distributor; -- The company's favorable operational performance record; -- Reliable cash generation by core utility activities, permitting a high rate of internal funding of capital requirements; and -- A solid balance-sheet structure, along with conservative financing policies. Factors constraining credit quality include: -- Uncertainties created by the current state of transition in Acea's operating environment, notably the likely expansion of its service territory for electricity and water distribution as well as wastewater services; and -- Some...
Companies mentioned in this report are: Acea SpA,Rome (City of)
Action: New Rating
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