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Autoroutes Paris-Rhin-Rhone Assigned 'BBB-' Issuer Rating Under Revised Approach; Outlook Neg On Tight Covenant Headroom Jun 09
Standard & Poors, June 2009
Abstract
LONDON (Standard & Poor's) June 4, 2009--Standard & Poor's Ratings Services said today that it assigned its long-term 'BBB-' corporate credit rating (CCR) to French toll-road operator Autoroutes Paris-Rhin-Rh-ne S.A. (APRR), which will now be assessed under the general corporate criteria. The outlook is negative. At the same time, Standard & Poor's assigned its 'BBB-' issue rating to the company's proposed -500 million 7.5% notes due January 2015, the company's inaugural public issuance under its -6 billion euro medium-term note (EMTN) program. We also affirmed our 'BBB-' ratings on APRR's EMTN program, seven-year -1.8 billion revolving credit facility due 2013, and seven-year -500 million medium-term loan due 2014. In keeping with our revised approach, we have removed the outlooks on...
Companies mentioned in this report are: Autoroutes Paris-Rhin-Rhone S.A.
Action: Affirmed
Action: New Rating
Action: Withdrawn
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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