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Norges Statsbaner AS Nov 09
Standard & Poors, November 2009
Very high likelihood of extraordinary government support in an event of financial distress. Strong and proven ongoing support from the Norwegian government. Strong business risk profile. Exposure to tough competition from other transportation modes in Norway. Below-average profitability. Underdeveloped rail infrastructure. The ratings on Norwegian national rail operator Norges Statsbaner AS (NSB) reflect its 100% ownership by and support from the Kingdom of Norway (AAA/Stable/A-1+). They also reflect our opinion that there is a "very high" likelihood of extraordinary government support in an event of financial distress. We assess NSB's stand-alone credit profile (SACP) at 'BBB+'. The SACP reflects our opinion of NSB's creditworthiness before taking into account the potential for extraordinary government intervention, but incorporates ongoing government support such...
Companies mentioned in this report are: Norges Statsbaner AS
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Research Type: Full Analysis
Norges Statsbaner AS