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Harvesting Iceland's Eco-Friendly Electricity Nov 97
Standard & Poors, November 1997
LONDON -- Standard & Poor's CreditWire 11/18/97 -- Iceland is successfully promoting itself to foreign investors as a location for power intensive industries as a means of using much more of its power potential. Only one-tenth of Iceland's hydro and geothermal power that could be harnessed economically is now being used. The rise in demand from three new large power contracts means that, in order to install the new capacity and adapt the mains grid, the Icelandic National Power Company, Landsvirkjun, will probably have to tap the capital markets. Landsvirkjun was recently assigned double-'A'-plus local currency and single-'A'-plus foreign currency ratings by Standard & Poor's. Other power intensive projects being discussed could be funded by project finance. Electricity production and...
Companies mentioned in this report are: Iceland (Republic of),Landsvirkjun
Action: S&P Event
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.
Iceland (Republic of),Landsvirkjun