- Published: May 2012
- Region: Romania
Credit Notice: S&P To Assess The Credit Impact Of Its Downgrade Of Portugal On Portuguese Utilities REN And EDP Mar 11
- Published: March 2011
- Region: Portugal
- Standard & Poors
PARIS (Standard & Poor's) March 24, 2011--Standard & Poor's Ratings Services lowered its long-term sovereign credit rating on the Republic of Portugal today to 'BBB' from 'A-' (the 'A-2' short-term sovereign credit rating is unchanged). The long- and short-term ratings on Portugal remain on CreditWatch with negative implications. We believe that this downgrade, together with an increasingly challenging economic and funding environment for Portuguese government-related entities, could have a negative impact on the creditworthiness of Portugal-based utilities REN-Redes Energeticas Nacionais, SGPS, S.A. (A-/Negative/A-2) and EDP - Energias de Portugal, S.A. (A-/Negative/A-2). We expect to publish a more detailed analysis of any effects of our sovereign rating action on the credit ratings on these two issuers as soon as permitted to...
Companies mentioned in this report are: EDP - Energias de Portugal, S.A.,REN-Redes Energeticas Nacionais, SGPS, S.A.
Action: General Comment
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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EDP - Energias de Portugal, S.A.,REN-Redes Energeticas Nacionais, SGPS, S.A.