• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Summary: Ferrovial S.A. Aug 11 Product Image

Summary: Ferrovial S.A. Aug 11

  • ID: 1873529
  • August 2011
  • Standard & Poors

Abstract
The rating on Spain-based infrastructure group Ferrovial S.A. reflects Standard & Poor's Ratings Services' opinion of the group's satisfactory business risk profile, which is supported by the long-term contractual cash flows generated by its services division, its internationally diversified revenue base, and the strong competitive position of its core businesses. These factors are partially offset by our view that the group's construction business, which accounts for about one-third of parent company EBITDA, is weaker than the services business. In addition, there is a potential need for Ferrovial to support struggling infrastructure projects, and the group is also exposed to the currently weak Spanish economy. Our rating methodology centers on analytical consolidation rather than accounting consolidation. We take into account Ferrovial's...

Companies mentioned in this report are: Ferrovial S.A.
Action: Review

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 READ MORE >

Note: Product cover images may vary from those shown

RELATED PRODUCTS