London Electricity Group PLC Nov 01
Standard & Poors, November 2001
Abstract
The ratings on London Electricity Group Holdings PLC (formerly London Electricity Group PLC), and London Electricity Group PLC (formerly London Electricity PLC) reflect the implied support from the companies' parent, Electricit- de France (EDF; AA+/Negative/A-1+). EDF is the vertically integrated and wholly state-owned French electricity company. Following the formal separation of the group's distribution and supply businesses, Standard & Poor's assigned the same ratings to both businesses. The strategic importance of the whole group of companies ("the Group") to EDF, was underlined earlier this year when EDF's president excluded the possibility of any partial privatization of the Group. The Group's stand-alone credit quality approximates a 'BBB+' rating (excluding EDF's implied support). The Group has a strong business as the dominant...
Companies mentioned in this report are: EDF Energy PLC,Caisse Nationale des Autoroutes,Electricite de France S.A.,GDF SUEZ S.A.,Societe Nationale des Chemins de Fer Francais,Agence Francaise de Developpement,France (Republic of) (Unsolicited Ratings),Banque Solfea,Caisse d'Amortissement de la Dette Sociale,Reseau Ferre de France,EDF Energy Group Holdings PLC,EDF London Capital L.P.,Banque de France,Societe Anonyme de Gestion de Stocks de Securite,London Power Networks PLC,EDF Energy Customers PLC
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 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: Full Analysis
EDF Energy PLC,Caisse Nationale des Autoroutes,Electricite de France S.A.,GDF SUEZ S.A.,Societe Nationale des Chemins de Fer Francais,Agence Francaise de Developpement,France (Republic of) (Unsolicited Ratings),Banque Solfea,Caisse d'Amortissement de la Dette Sociale,Reseau Ferre de France,EDF Energy Group Holdings PLC,EDF London Capital L.P.,Banque de France,Societe Anonyme de Gestion de Stocks de Securite,London Power Networks PLC,EDF Energy Customers PLC
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