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BULLETIN: Vattenfall, Vasakronan, and Specialfastigheter Unaffected by Exceptional Dividend Nov 03
Standard & Poors, Nov 2003
Abstract
STOCKHOLM (Standard & Poor's) Nov. 14, 2003--Standard & Poor's Ratings Services said today that its ratings and outlook on Swedish electric utility Vattenfall AB (A-/Stable/A-2), and property companies Vasakronan AB (BBB/Stable/A-2) and Specialfastigheter Sverige AB (AA/Stable/A-1+), are not affected by the Swedish government's decision that some of its wholly owned companies should pay an exceptional dividend. As the amounts concerned are relatively small--Swedish krona (Skr) 190 million ($25 million) for Vattenfall, Skr100 million for Vasakronan, and Skr50 million for Specialfastigheter--Standard & Poor's considers that the dividends will not have a significant impact on the companies' financial profiles. The dividends, totaling Skr1.3 billion, will be channeled to financially distressed state-owned companies. Total adjusted debt for Vattenfall at the end of September...
Companies mentioned in this report are: Vattenfall AB,Vasakronan AB,Specialfastigheter Sverige AB
Action: S&P Event
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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