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BULLETIN: German Utilities RWE AG and EnBW AG Compete for Hidrocant?brico Feb 01
Standard & Poors, Feb 2001
Abstract
Corporate credit ratings: RWE AG AA-/Stable/A-1+ Energy Baden Wuerttemberg AG A+/Stable/-- Standard & Poor's said today that it does not expect the bids that have been made for Hidrocant-brico, Spain's fourth-largest power utility, by two German power companies, RWE AG and Energie Baden Wuerttemberg AG (EnBW; bidding in conjunction with Spanish company Ferroatl-ntica S.L.) will have any impact on the German utilities' respective ratings, even if successful. The bids are in competition with an existing bid from Electricidade de Portugal S.A. (EdP). For RWE, the acquisition would be in line with the scope and scale of planned expansion investments already factored into its ratings. Although EnBW has significantly increased its initial offer, it also has considerable headroom for acquisitions at...
Companies mentioned in this report are: EnBW Energie Baden-Wuerttemberg AG,EDP - Energias de Portugal S.A.,RWE AG
Action: S&P Event
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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