- Language: English
- 92 Pages
- Published: April 2011
- Region: France
AREVA 'A-1' Short-Term Rating Stays On CreditWatch Negative; Increased Likelihood Of Downgrade Apr 09
- Published: April 2009
- Standard & Poors
PARIS (Standard & Poor's) April 1, 2009--Standard & Poor's Ratings Services said today that its 'A-1' short-term corporate credit rating on French nuclear services provider AREVA remained on CreditWatch with negative implications after higher-than-anticipated cash flow deterioration in second-half 2008 linked to the troubled Finnish OL3 new nuclear build project and pending AREVA's buyout of Siemens' stake in AREVA NP. The ratings were placed on CreditWatch on Jan. 27, 2009, following the announcement by Siemens AG (AA-/Negative/A-1+) to exercise its put option for the sale of 34% stake in AREVA NP, AREVA's reactor subsidiary. "Following a review of AREVA's 2008 results, we believe the risk of downgrade of AREVA's short-term 'A-1' rating to 'A-2' is now high," said Standard &...
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Action: CreditWatch Update
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Research type: News
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