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Autoroutes Paris-Rhin-Rhone Cut To 'BBB/A-2' On Expected Higher Leverage; Still On Watch Neg Jan 06
Standard & Poors, Jan 2006
Abstract
PARIS (Standard & Poor's) Jan. 25, 2006--Standard & Poor's Ratings Services said today that it lowered its long-term corporate credit rating on France-based toll road operator Autoroutes Paris-Rhin-Rh-ne (APRR) to 'BBB' from 'A'. The short-term rating was lowered to 'A-2' from 'A-1'. The ratings remain on CreditWatch with negative implications, where they were originally placed on Aug. 31, 2005, following completion of the first step by the French state to divest its 70.2% shareholding in the company. At the same time, Standard & Poor's lowered its long-term rating on APRR's senior unsecured -800 million seven-year revolving credit facility maturing in September 2012 to 'BBB' from 'A'. The rating remains on CreditWatch with negative implications, in line with the corporate credit...
Companies mentioned in this report are: Autoroutes Paris-Rhin-Rhone S.A.
Action: Downgraded
Action: On CreditWatch:Negative
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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