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Summary: AREVA Sep 09 Product Image

Summary: AREVA Sep 09

  • Published: September 2009
  • Standard & Poors

Abstract
The ratings on French nuclear services provider AREVA, 91% owned by the Republic of France (AAA/Stable/A-1+), reflect the company's stand-alone credit profile (SACP), which Standard & Poor's Ratings Services assesses at 'BBB+'. In addition, the ratings include a two-notch uplift from the SACP, reflecting our opinion that there is a "moderately high" likelihood that the French state would provide timely and sufficient extraordinary support to AREVA in the event of financial distress. Because of AREVA's state ownership, we consider it a government-related entity (GRE) under our criteria. Accordingly, our view of a "moderately high" likelihood of extraordinary government support is based on our assessment of AREVA's "important" role as France's leading nuclear services provider and "strong" link with the government....

Companies mentioned in this report are:
- AREVA
- Electricite de France S.A.

Action: Review

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- AREVA
- Electricite de France S.A.

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