Summary: Norges Statsbaner AS Nov 06
- ID: 2043973
- November 2006
- Standard & Poors
The ratings on Norway-based rail and bus services provider Norges Statsbaner AS (NSB) reflect strong and proven support from the company's 100% owner, the Kingdom of Norway (AAA/Stable/A-1+), and NSB's strategic role in the Norwegian public transportation sector. Sovereign support fully offsets NSB's exposure to commercial risks in parts of its operations, and the company's weak, albeit improving, financial performance over the past few years. The liberalization of the Norwegian passenger-rail sector, initiated in late 2004, has been halted by the new government, and the only route put out for tender (Gj-vikbanen) has been awarded to NSB. Consequently, the company's business position will likely remain strong. NSB is also trying to strengthen its position in the Scandinavian passenger-rail market. At...
Companies mentioned in this report are: Norges Statsbaner AS
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >