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CreditStats: 55103010 Multi-Utilities--Europe Oct 06

Standard & Poors, October 2006

Abstract
Note: Standard & Poor's Ratings Services is changing its industry and sector groupings to the Global Industry Classification System (GICS). Consequently, some companies may now appear under different sector names from those they appeared under in previous years. In other cases, some sectors may have been combined or renamed under the new GICS system....

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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

- United Utilities PLC
- Northern Electric PLC
- Suez S.A.
- Eneco Holding N.V.
- Enemalta Corp.
- Centrica PLC
- Energie AG Oberoesterreich
- Acea SpA
- Veolia Environnement S.A.
- RWE AG
- Essent N.V.
- Scottish Power Energy Management Ltd.
- National Grid PLC
- N.V. Eneco Beheer
- Energie Steiermark AG
- A2A SpA
- EWE AG
- ASM Brescia SpA
- Gelsenwasser AG
- Hera SpA
- Energinet.dk SOV

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