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Norges Statsbaner AS Dec 11
Standard & Poors, December 2011
Very high likelihood of extraordinary government support in an event of financial distress. Demonstrated ongoing public support from the Norwegian government. A significant real estate portfolio that provides a cushion for weaker operating segments. Low profitability, which is highly dependent on gains from property sales. Credit metrics that we believe will remain weak for the next few years due to significant capital spending. The 'AA-' rating on Norwegian national rail operator Norges Statsbaner AS (NSB) is based on the group's stand-alone credit profile (SACP), which Standard & Poor's Rating Services assesses at 'bbb+', and on our opinion that there is a "very high" likelihood that the Kingdom of Norway (AAA/Stable/A-1+), would provide timely and sufficient extraordinary support to NSB in...
Companies mentioned in this report are: Norges Statsbaner AS
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Norges Statsbaner AS