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AEM SpA Downgraded To 'BBB/A-2' And Off Watch On Completion Of Edison Purchase; Outlook Stable Oct 05
Standard & Poors, Oct 2005
Abstract
MILAN (Standard & Poor's) Oct. 31, 2005--Standard & Poor's Ratings Services said today that it has lowered its long- and short-term corporate credit ratings on Italian utility AEM SpA to 'BBB' and 'A-2', respectively, from 'A' and 'A-1', and removed the ratings from CreditWatch, where they had been placed with negative implications on May 9, 2005. The outlook is stable. 'The three-notch downgrade follows the closing of the debt-financed takeover of Italian utility Edison SpA by the Transalpina di Energia srl consortium led by AEM and Electricit- de France, and reflects the resulting material deterioration in AEM's financial profile,' said Standard & Poor's credit analyst Monica Mariani. The ratings on AEM are based on the group's strong local franchise, the...
Companies mentioned in this report are: A2A SpA,Electricite de France S.A.,Edison SpA
Action: Downgraded
Action: Outlook: Stable
Action: Removed From CreditWatch
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.
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