|
|
 |
|
Viewing report
|
|
|
|
C.N. Transelectrica S.A. Apr 07
Standard & Poors, April 2007
Abstract
Relatively benign, revenue-cap regulatory regime Strategic importance to the government of Romania in its plans to rehabilitate and privatize parts of the electric utility industry Monopoly status in the domestic and cross-border transmission of electricity Improved liquidity on the back of a successful IPO in 2006 Remaining, though declining, political and macroeconomic risks in tariff-setting Exposure to remaining transition economy features of Romania Significant capital-expenditure upgrading program that requires debt funding Weak financial flexibility and below-average financial risk management practices The rating on Romania-based C.N. Transelectrica S.A. (Transelectrica) reflects its position as Romania's monopoly electricity transmission system operator, the relatively benign revenue cap tariff regulation; and reduced regulatory and market risks in Romania. The rating also reflects an improvement in...
Companies mentioned in this report are: C.N. Transelectrica S.A.,Romania
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
|
|
|
|
