The French Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: October 2011
- Region: France
The ratings on French electricity incumbent Electricit- de France (EDF) reflect the company's 'A+' stand-alone creditworthiness and a one-notch uplift for state support, given its very specific features, in particular its focus on nuclear energy. EDF's stand-alone credit quality is underpinned by its dominant position in the French market; low variable costs thanks to its focus on nuclear and hydro-electric power generation; substantial share of low-risk regulated activities; and the refocusing of its international operations on Western Europe. These strengths are offset by EDF's average financial profile, when taking into account its sizeable unfunded postretirement and nuclear liabilities. EDF's financial profile has nevertheless been boosted by the recently completed -6.35 billion capital increase and is expected to improve further, thanks...
Companies mentioned in this report are: Electricite de France S.A.,Edison SpA
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 >
Electricite de France S.A.,Edison SpA