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BULLETIN: Italian Power Utility AEM SpA to Increase Stake in Edipower SpA
Standard & Poors, Aug 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
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
LONDON (Standard & Poor's) Aug. 12, 2003--Standard & Poor's Rating Services said today that its ratings on Italy-based electricity utility AEM SpA (A/Stable/A-1) will not be affected by the company's decision to increase its interest in Italian generator Edipower SpA to 16.0% from 13.4%. AEM will increase its stake through Edipower's upcoming -1.0 billion capital increase, part of the company's refinancing of its -3.3 billion outstanding debt. The balance will come from -2.3 billion new bank facilities. AEM will contribute -185 million to the total capital increase, which will raise its stake by -51 million, funded through debt. Standard & Poor's believes that the transaction will not materially affect AEM's business profile and that it can be supported by the...
Companies mentioned in this report are: A2A SpA
Action: S&P Event
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