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Research Update: Portuguese Utility EDP 'A-/A-2' Ratings Placed On CreditWatch Negative After Similar Action On Portugal Dec 10 Product Image

Research Update: Portuguese Utility EDP 'A-/A-2' Ratings Placed On CreditWatch Negative After Similar Action On Portugal Dec 10

  • Published: December 2010
  • Region: Portugal
  • Standard & Poors

Abstract
On Nov. 30, 2010, we placed our 'A-/A-2' ratings on the Republic of Portugal on CreditWatch negative because of uncertainty regarding the effects of a proposed EU treaty change. We are placing our 'A-/A-2' ratings on Portuguese utility EDP - Energias de Portugal, S.A. on CreditWatch with negative implications. The CreditWatch placement reflects our opinion that EDP's business risk profile and overall credit profile could further deteriorate and that a downgrade of the sovereign would likely lead to a downgrade of EDP. On Dec. 3, 2010, Standard & Poor's Ratings Services placed on CreditWatch with negative implications its 'A-/A-2' long- and short-term corporate credit ratings on Portuguese utility EDP - Energias de Portugal, S.A. and its financial vehicle EDP Finance...

Companies mentioned in this report are: EDP - Energias de Portugal, S.A.,EDP Finance B.V.
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 READ MORE >

EDP - Energias de Portugal, S.A.,EDP Finance B.V.

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