Italian Electric and Gas Utility AEM SpA Assigned 'A/A-1' Ratings; Outlook Stable
Standard & Poors, April 2003
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
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Abstract
MILAN (Standard & Poor's) April 16, 2003--Standard & Poor's Ratings Services said today that it had assigned its 'A' long-term and 'A-1' short term corporate credit ratings to Italian utility AEM SpA (AEM). The outlook is stable. "The ratings reflect the AEM's moderate financial profile and its strong business position as the sole electricity and gas distributor in the Milan area," said Monica Mariani, a credit analyst in Standard & Poor's Milan office. "These factors are offset, however, by increasing competition in the generation and retail of electricity and in gas retail, as well as by the higher risk inherent in AEM's smaller scale telecom operations. The company is also relatively exposed to volatility in weather-sensitive hydroelectric production." Serving the...
Companies mentioned in this report are: A2A SpA,Enel SpA
Action: New Rating
A2A SpA,Enel SpA
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