Hera SpA, is one of Italy's largest regional multi-utilities companies. On Nov. 10, 2011, the Bologna-based company reported earnings for the first nine months 2011 of €84 million, 6.3% higher than the €79.1 million recorded for the same period the previous year, confirming the company's track record of steady earnings. In our Nov. 4 search of the European multi-utilities subsector, the research team identified Hera SpA's 4.125% note maturing Feb. 16, 2016, as offering relatively attractive risk-adjusted rewards relative to other scored European bonds. The note had a Risk-to-Price (R2P) score of 29.2, which ranked in the first R2P quartile and 76th percentile. In R2P scoring, the first quartile contains the issues that we believe best compensate investors, through yield,...
Companies mentioned in this report are:
- National Grid Gas PLC
- National Grid Electricity Transmission PLC
- United Utilities Water PLC
- Tyseley Finance PLC
- Centrica PLC
- Acea SpA
- National Grid PLC
- A2A SpA
- Hera SpA
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