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BULLETIN: French Toll Road Operators Ratings Unaffected By Government's Divestment Jun 05
Standard & Poors, June 2005
Abstract
PARIS (Standard & Poor's) June 9, 2005--Standard & Poor's Ratings Services said today that yesterday's announcement by France's new prime minister about the state's plans to divest its remaining stakes in the three state-controlled toll road network operators (TROs)--Autoroutes du Sud de la France S.A. (ASF, A+/Stable/A-1), Autoroutes Paris-Rhin-Rhone (A/Stable/A-1), and Sanef (A+/Stable/A-1)--will have no immediate impact on the ratings on the entities. We view the French state's ownership in ASF, APRR, and Sanef as mere financial investments, and as such have factored in no consequent specific benefits for the ratings. A change in the companies' strategies or financial policies following this state policy review could have an impact on the individual ratings, but we do not envisage such an...
Companies mentioned in this report are: Autoroutes du Sud de la France S.A.,Autoroutes Paris-Rhin-Rhone S.A.,Sanef
Action: Bulletin
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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