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Autoroutes Paris-Rhin-Rh?ne Rated 'A/A-1' Ahead of Planned IPO; Outlook Stable Nov 04
Standard & Poors, Nov 2004
Abstract
PARIS (Standard & Poor's) Nov. 9, 2004--Standard & Poor's Ratings Services said today it assigned its 'A' long-term and 'A-1' short-term corporate credit ratings to France-based toll-road operator Autoroutes Paris-Rhin-Rh-ne (APRR), which operates Europe's third-largest interconnected toll-highway networks principally located across the central and the eastern parts of France. This is prior to the planned IPO of about 30% of the company by its 100% owner, the French state. The outlook is stable. 'The ratings reflect APRR's robust recurring cash flows, a supportive regulatory regime, together with limited construction risk, and a cash injection of -1.35 billion following the planned IPO at the end of November 2004,' said Standard & Poor's credit analyst Alexandre de Lestrange. These strengths are offset...
Companies mentioned in this report are: Autoroutes Paris-Rhin-Rhone S.A.
Action: New Rating
Action: Outlook: Stable
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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