Ratings on Gaz de France Affirmed; Off CreditWatch Negative; Outlook Stable Jul 99
- ID: 2046276
- July 1999
- Region: France
- Standard & Poors
PARIS (Standard & Poor's CreditWire) July 26, 1999--Standard & Poor's today affirmed its triple-'A' long-term corporate credit and senior unsecured debt ratings on Gaz de France (GDF) and removed them from CreditWatch, where they had been placed with negative implications on April 19, 1999. GDF's 'A-1'-plus short-term corporate credit and commercial paper ratings were also affirmed. The outlook is stable. The CreditWatch placement had followed the downgrade of the long-term corporate credit and senior unsecured debt ratings on Electricite de France (EDF) to double-'A'-plus from triple-'A'. Both EDF and GDF are 100%-state-owned energy utilities with a legal status conferring on their obligations the ultimate guarantee of the Republic of France (triple-'A'/Stable/'A-1'-plus), and with national monopoly entitlements soon to be partly...
Companies mentioned in this report are:
- Engie SA
- Electricite de France S.A.
- France (Republic of)
Action: Affirmed, Off CreditWatch
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
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