- Published: January 2011
Research Update: CIR International SpA Outlook Revised To Stable From Negative; 'BBB-', 'A-3' Ratings Affirmed
- Published: April 2008
- Standard & Poors
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
On April 17, 2008, Standard & Poor's Ratings Services revised its outlook on Compagnie Industriali Riunite SpA (CIR) to stable from negative, and affirmed the 'BBB-' long-term and 'A-3' short-term credit ratings. The actions follow the company's recent steps to better insulate the group holdings from the operating companies through a change in CIR bonds' cross default provision, and our subsequent credit review. The ratings on Italy-based holding company CIR reflect the sound credit risk profiles of its main majority-owned subsidiaries, the media group Gruppo Editoriale L'Espresso SpA (BBB-/Stable/--) and the automotive component producer Sogefi SpA (not rated); and portfolio diversity underpinned by investments in noncorrelated industries. The ratings also account for the holding company's solid financial flexibility, derived from...
Companies mentioned in this report are: CIR-Compagnie Industriali Riunite SpA,Gruppo Editoriale L'Espresso SpA
Action: Outlook: Stable
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CIR-Compagnie Industriali Riunite SpA,Gruppo Editoriale L'Espresso SpA
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