Utility EDP - Energias de Portugal 'A-/A-2' Ratings Affirmed On Expected Credit Metrics; Outlook Remains Negative Oct 10
Standard & Poors, October 2010
Abstract
We believe that EDP's credit metrics will recover to levels we deem commensurate with its current ratings. We are affirming our 'A-/A-2' ratings on EDP, a Portuguese utility. Our negative outlook reflects our outlook on the Republic of Portugal, as well as economic conditions and uncertainty over the regulatory frameworks in EDP's core markets. PARIS (Standard & Poor's) Oct. 29, 2010--Standard & Poor's Ratings Services said today that it has affirmed its 'A-' long-term and 'A-2' short-term issuer credit ratings on Portuguese utility EDP - Energias de Portugal, S.A. The outlook remains negative. "The affirmation reflects our expectation that EDP's credit metrics will recover shortly to levels we deem commensurate with a 'A-' rating," said Standard & Poor's credit analyst...
Companies mentioned in this report are: EDP - Energias de Portugal, S.A.,EDP Finance B.V.
Action: Affirmed
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.
EDP - Energias de Portugal, S.A.,EDP Finance B.V.
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