Summary: Norges Statsbaner BA Jul 02
- ID: 2044454
- July 2002
- Standard & Poors
The ratings on rail service provider Norges Statsbaner AS (NSB) reflect the strong and proven support from the company's 100% owner, the Kingdom of Norway (AAA/Stable/A-1+) as NSB's plays a strategic role in the Norwegian transportation sector. This support fully offsets exposure to commercial risks in parts of NSB's operations, a weak financial and operational performance over the past few years, and investments required for the company's ongoing major rolling-stock upgrade program. NSB is the dominant supplier of rail transportation services in Norway. In addition, the company owns and operates the largest passenger bus company in the country, and has a valuable real-estate portfolio. About 20% of NSB's 2001 revenues, Norwegian krone (Nkr) 7.1 billion ($928 million), are derived from...
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 >