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Bulletin: Vattenfall Ratings Unaffected By Write-Offs And Provisions On Closure Of German Nuclear Plants Jun 11
Standard & Poors, June 2011
Abstract
STOCKHOLM (Standard & Poor's) June 22, 2011--Standard & Poor's Ratings Services said today that its ratings on Sweden-based multi-utility Vattenfall AB (A/Negative/A-1) are not immediately affected by a company announcement that it would need to write off the book value of two German nuclear power plants if the German parliament approves a government proposal to shut down the country's nuclear power plants. Vattenfall said it would also need to increase provisions for handling nuclear fuel and dismantling the two plants (Brunsb-ttel, 66.7% ownership, and Kr-mmel, 50%). According to the company, the combined effect on its operating profit would be about Swedish krona 10 billion, which would be charged to the income statement in the second quarter of 2011. The charges...
Companies mentioned in this report are: Vattenfall AB
Action: Bulletin
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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