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Autoroutes Paris-Rhin-Rhone Senior Unsecured EMTN Program Rated 'BBB-'; Outlook Stable Oct 07
Standard & Poors, Oct 2007
Abstract
LONDON (Standard & Poor's) Oct. 3, 2007--Standard & Poor's Ratings Services said today that it assigned its 'BBB-' debt rating to the senior unsecured -6 billion EMTN program issued by French toll road operator Autoroutes Paris-Rhin-Rhone (APRR). The outlook is stable. The EMTN program will be used to refinance the remainder of the group's revolving credit facility (RCF) and to finance debt repayments to Caisse Nationale des Autoroutes (CNA; AAA/Stable/--) and increasing capital expenditures at APRR. The rating on notes issued under the EMTN program will not necessarily be the same as the rating assigned to the program itself. Any debt issued under the program which we deem to be subordinate in any way to senior unsecured debt issued by...
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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