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Research Update: Edison SpA May 03 Product Image

Research Update: Edison SpA May 03

  • Published: May 2003
  • Standard & Poors

Abstract
On May 30, 2003, Standard & Poor's Ratings Services affirmed its 'BBB' long-term and A-3 short-term corporate credit ratings on Edison SpA, Italy's second-largest energy utility. The ratings were removed from CreditWatch, where they had been placed on Nov. 15, 2002. The outlook is stable. The CreditWatch resolution follows Standard & Poor's reassessment of Edison's credit quality, based on the group's new business plan, recent disposals, and confirmed shareholder support. The ratings reflect Edison's strong business position, which are underpinned by cash flow support from regulated energy supply contracts (expected to generate about 60% of total EBITDA until 2004), an adequate plant portfolio, and competition's slow progress in Italy's energy markets. These positive factors are offset, however, by the higher...

Companies mentioned in this report are: Edison SpA,Electricite de France S.A.
Action: Review

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 READ MORE >

Edison SpA,Electricite de France S.A.

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