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'A-' Rtgs on Italian Energy Co. Edison SpA Remain on Watch Neg After Ownership Change Likely Jul 01
Standard & Poors, July 2001
Abstract
LONDON (Standard & Poor's CreditWire) July 24, 2001--Standard & Poor's today announced that its single-'A'-minus long-term corporate credit and senior unsecured debt ratings on integrated Italy-based energy company Edison SpA remain on CreditWatch with negative implications. The 'A-2' short-term corporate credit ratings remain unchanged. The previous CreditWatch update, on March 19, 2001, reflected Standard & Poor's concern over Edison's future financial profile given the company's potential to debt-finance future acquisitions, such as Enel SpA's (A+/Stable/A-1) Italian generating plants. Edison's bid for Enel's power generating company, Elettrogen, was unsuccessful; however, a likely change in company ownership means there is still uncertainty about Edison's future credit quality. Italenergia, a consortium led by Fiat SpA (--/--/A-3) and Electricit- de France (AA+/Negative/A-1+), bid successfully...
Companies mentioned in this report are: Edison SpA,Electricite de France S.A.,Fiat SpA,Enel SpA
Action: CreditWatch Update
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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