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Belgium-Based Elia System Operator Outlook Revised To Stable On Steady Financial Profile; 'A-/A-2' Ratings Affirmed
Standard & Poors, May 2011
Abstract
Cash flow generation at Belgium-based transmission grid operator Elia System Operator S.A./N.V. (Elia) has strengthened more than we anticipated due to improved earnings in the German grid. Elia has recently signed three long-term committed credit lines providing -300 million in additional support for its liquidity profile. We are therefore revising our outlook on Elia to stable from negative and affirming our 'A-/A-2' corporate credit ratings on the group. The stable outlook reflects our view of Elia's excellent business risk profile and that Elia's consolidated credit metrics will continue to improve in the near to medium term. LONDON (Standard & Poor's) May 12, 2011--Standard & Poor's Ratings Services said today that it revised its outlook on Belgium-based transmission grid operator Elia...
Companies mentioned in this report are: Elia System Operator S.A./N.V.
Action: Affirmed
Action: Outlook: Stable
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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