Summary: EDF Energy PLC Dec 10
Standard & Poors, December 2010
Abstract
The 'A' long-term rating on U.K.-based, vertically integrated electricity utility EDF Energy PLC is on CreditWatch, where it was placed with negative implications on Oct. 2, 2009, following Electricite de France S.A.'s (EDF; A+/Stable/A-1) announcement that it is considering selling EDF Energy's regulated electricity distribution networks (DNOs). The sale was subsequently completed on Oct. 29, 2010. As a consequence, we are currently analyzing EDF Energy's resulting business risk profile, its financial strategy, and the level of support from EDF. The ratings on EDF Energy reflect Standard & Poor's Ratings Services' view of the group's stand-alone credit profile (SACP), which is currently under review, and the support of its 100% owner EDF. The ratings incorporate exceptional parental support, since EDF Energy...
Companies mentioned in this report are: EDF Energy PLC,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 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.
EDF Energy PLC,Electricite de France S.A.
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