|
|
 |
|
Viewing report
|
|
|
|
AEM SpA 'A/A-1' Ratings On CreditWatch Negative On Likely Acquisition Of Edison Stake May 05
Standard & Poors, May 2005
Abstract
MILAN (Standard & Poor's) May 9, 2005--Standard & Poor's Ratings Services said today it placed its 'A' long-term and 'A-1' short-term corporate credit ratings on Italian utility AEM SpA on CreditWatch with negative implications. The CreditWatch placement follows the announcement that a consortium led by AEM and Electricite de France (AA-/Negative/A-1+) intends to achieve joint control of Italian utility Edison SpA (BBB+/Stable/A-2). The agreement remains subject to the approval of relevant authorities. Edison is valued about MILAN (Standard & Poor's) May 9, 2005--Standard & Poor's Ratings Services said today it placed its 'A' long-term and 'A-1' short-term corporate credit ratings on Italian utility AEM SpA on CreditWatch with negative implications. The CreditWatch placement follows the announcement that a consortium led by AEM and Electricite de France (AA-/Negative/A-1+) intends to achieve joint control of Italian utility Edison SpA (BBB+/Stable/A-2). The agreement remains subject to the approval of relevant authorities. Edison is valued about -7 billion on the stock market and has about -5 billion of adjusted net debt. Given the magnitude of the transaction, Standard & Poor's believes that the ratings on AEM would be lowered by a few notches if the transaction were significantly debt funded....
Companies mentioned in this report are: A2A SpA,Electricite de France S.A.,Edison SpA
Action: On CreditWatch:Negative
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.
|
|
|
|
