- Language: English
- 79 Pages
- Published: February 2012
- Region: Turkey
Summary: Power Sector Assets & Liabilities Management Corp. Jun 11
- Published: June 2011
- Standard & Poors
The ratings on Power Sector Assets & Liabilities Management Corp. (PSALM) reflect Standard & Poor's Ratings Services' opinion of an "almost certain" likelihood that the government of Philippines (foreign currency BB/Stable/B; local currency BB+/Stable/B; axBBB+/axA-2) will provide timely and sufficient extraordinary support to the utility company in the event of financial distress. We assess the stand-alone credit profile of PSALM to be weak. We believe the company has a vulnerable business risk profile and a highly leveraged financial risk profile. PSALM has not officially released its full year 2010 financial accounts, and has provided limited information on its updated financials for 2011. The sovereign guarantee is the principal consideration for our rating on PSALM. In accordance with our criteria for...
Companies mentioned in this report are: Power Sector Assets & Liabilities Management Corp.
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Power Sector Assets & Liabilities Management Corp.