Research And Markets Research And Markets
0 CHECKOUT

Risk-to-Price Commentary: Hera SpA Nov 11

  • ID: 1952924
  • November 2011
  • Standard & Poors
1 of 3

FEATURED COMPANIES

  • A2A SpA
  • Acea SpA
  • Centrica PLC
  • Hera SpA
  • National Grid Gas PLC
  • National Grid PLC
  • MORE

Abstract
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

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- 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

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown

RELATED PRODUCTS from Db