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Norwegian Rail Monopoly Norges Statsbaner Cut To 'AA-' On New GRE Methodology & Weaker Financial Ratios; Outlook Stable Sep 09

  • ID: 2043672
  • September 2009
  • Region: Norway
  • Standard & Poors

Abstract
Standard & Poor's recently revised its methodology for rating government-related entities, and now bases its issuer credit ratings on: our estimation of the likelihood of timely extraordinary government support; the entity's stand-alone credit profile; and the sovereign rating on the related government. We have lowered our assessment of Norway's national rail Operator Norges Statsbaner's stand-alone credit profile to 'BBB+'. We are lowering our long-term rating on Norges Statsbaner to 'AA-', in accordance with our revised methodology, and affirming the 'A-1+' short-term rating and removing both ratings from CreditWatch with negative implications. The stable outlook reflects our expectation of a "very high" likelihood of timely and sufficient extraordinary support from the Norwegian government to Norges Statsbaner if needed, as well as...

Companies mentioned in this report are: Norges Statsbaner AS
Action: Affirmed
Action: Downgraded
Action: Outlook: Stable
Action: Removed From CreditWatch

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Norges Statsbaner AS

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