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Abengoa Cogeneracion Tabasco S. de R.L. de C.V. Feb 12
Standard & Poors, Feb 2012
Abstract
Project sponsors (Abengoa Mexico and GE) with globally established track records and extensive experience in the energy sector; Low technology risk associated with the project; Adequate debt service coverage ratios under different stress scenarios; and ACT is bankruptcy remote from its sponsors. Weak distribution test; PEMEX's early termination payment, which ensures full repayment of outstanding debt balances, will occur after 180 days, rather than on a timely basis; and Low debt service reserve account. Standard & Poor's Ratings Services' ratings on Abengoa Cogeneracion Tabasco S. de R.L. de C.V. (ACT) reflect the globally established track records of its project sponsors, Abengoa (B+/Stable/--) and General Electric (GE), in addition to the low technology risk associated with the project, and its adequate...
Companies mentioned in this report are: Abengoa Cogeneracion Tabasco S. de R.L. de C.V.
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.
Research Type: Full Analysis
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