Summary: Norges Statsbaner AS Oct 08
- ID: 2045287
- October 2008
- Standard & Poors
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
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 >