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Autoroutes du Sud de la France S.A. Cut To 'BBB+/A-2' On Expected Sale; Still On WatchNeg Dec 05
Standard & Poors, Dec 2005
Abstract
PARIS (Standard & Poor's) Dec. 14, 2005--Standard & Poor's Ratings Services said today that it has lowered its long-term corporate credit rating on French toll-road network operator Autoroutes du Sud de la France S.A. (ASF) to 'BBB+' from 'A+'. At the same time, Standard & Poor's lowered its short-term rating on ASF to 'A-2' from 'A-1'. The ratings remain on CreditWatch with negative implications, where they were placed on Aug. 31, 2005. The downgrade results primarily from the expected ownership change, given the appointment of Vinci S.A. (BBB+/Watch Neg/A-2) to acquire the state's 50.4% interest in ASF. Thereafter Vinci will hold a minimum of 73% of ASF and control the company. The CreditWatch status reflects Vinci's intended equity increase to...
Companies mentioned in this report are: Autoroutes du Sud de la France S.A.,Caisse Nationale des Autoroutes,VINCI S.A.
Action: Downgraded
Action: On CreditWatch:Negative
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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