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BULLETIN: Electricit? de France Releases 2001 Results Mar 02
Standard & Poors, March 2002
Abstract
Standard & Poor's today announced that its outlook on Electricit- de France (EDF; AA+/Negative/A-1+) remains negative, following the publication of the company's results on March 28, 2002. The figures show that EDF is being affected by continued electricity-market deregulation and by the harsh conditions encountered in its South American subsidiaries. These elements, in conjunction with a significant increase of debt levels, have contributed to the weakening of EDF's debt-protection ratios. While the fall was expected owing to the announced acquisition policy, it is larger than expected and comes amid renewed discussions on a potential opening of its capital--and in the wake of recent decisions on liberalization of energy markets in Europe, which will entail a further opening of the French...
Companies mentioned in this report are: Electricite de France S.A.
Action: S&P Event
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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