The ratings on Norway-based rail and bus services 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+), and NSB's strategic role in the Norwegian public transportation sector. The ratings also take into account NSB's position as a virtual monopoly provider of domestic rail transport services and as Norway's largest bus operator, as well as its valuable real estate portfolio. The ratings are constrained by tough competition from other methods of transportation in Norway, NSB's below-average profitability for the rating level, and the underdeveloped rail infrastructure. Standard & Poor's Ratings Services views NSB as a public policy-based government-related entity. Privatization of NSB is unlikely in the next five years....
Companies mentioned in this report are: Norges Statsbaner AS
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