Tag Archive: credit rating

S&P Global Ratings’ warning that Atlantia’s proposed Abertis takeover could cause a rating downgrade is covered by specialist press

  In June 2017, Italy-based infra holding company, Atlantia SpA, formally launched a €16.3 billion voluntary tender offer for all outstanding shares of Spain-based Abertis Infraestructuras S.A – a leader in toll road management. If approved, the deal will represent the largest foreign acquisition by an Italian company since 2007 and would create the world’s …

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S&P Global Ratings’ Michael Ferguson explains US energy winners and losers in the age of Trump

The US executive office is soon to have a leader with environmental aims significantly different from those of his predecessor. While the Obama Administration’s energy policies strived to address global warming, President-elect Trump has presented himself as agnostic to the idea of climate change. In Business Green, S&P Global Ratings’ Michael Ferguson details how energy …

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S&P Global Ratings assigns High Speed Rail’s £314 million debt issue ‘A-’

U.K.-based entity High Speed Rail Finance PLC (HSRF) has issued £314 million of senior secured rated debt. S&P Global Ratings has given a long-term ‘A-’ rating and stable outlook to HSRF’s issue, due to the project’s strong stand-alone credit profile. In addition to a lack of construction risk, S&P argues that the project benefits from …

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S&P’s EDF downgrade reaches press following Hinkley approval

Following the UK government’s approval of a new nuclear build in Somerset, Hinkley Point C, S&P Global Ratings has downgraded French energy company, Électricité de France’s (EDF) credit rating from ‘A’ to ‘A-’. The cut considers the £18 billion nuclear project “complex” with high investments adding to the utility company’s already weak cash flow. The …

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S&P navigates 2016’s shipping sector in the specialist press

This year is set to unleash stormy conditions for the global shipping industry. Writing in specialist shipping magazine Maritime Reporter, Izabela Listowska, Director at S&P Ratings, argues that overly large fleets are chasing too little trade and negative consequences for employment in the industry could be on the horizon. Meanwhile, a potential rebound in oil …

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S&P takes to the skies with first ever easyJet rating

Standard & Poor’s has rated European low-cost airline easyJet for the first time, assigning a long-term investment-grade corporate credit rating of ‘BBB+’ to both easyJet plc and its subsidiary, easyJet Airline Company ltd. The outlook is stable. Also given a ‘BBB+’ rating was the £3 billion medium-term note program issued by the company. S&P cited …

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S&P’s new rating of Belgium care home ProjectCo ‘Silverstone’ covered by IJGLobal

Standard and Poor’s new long-term issue rating of ‘BBB’ (stable) on a €186 million bond to finance the re-acquisition of 25 senior care homes in Belgium was picked up by project finance specialist publication IJGLobal. The bond, issued by Luxembourg-based special-purpose vehicle MRE-Silverstone-I S.A., pays a fixed coupon of 3.6% with an eleven-year maturity. The …

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S&P’s first rating of an offshore wind farm covered by the specialist press

The energy market’s transition from fossil-fuel dependency to a cleaner, greener system has been gaining significant momentum over the past five years. In particular, offshore wind has gone from strength to strength. As such, Standard & Poor’s Ratings Services assigned their first ever preliminary credit rating of ‘BBB-’ to offshore wind project WindMW. Commonly known …

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Standard & Poor’s rates Abengoa Solar’s EUR 285 million project bonds, reports InfraNews

As the Spanish solar energy company Abengoa Solar issued EUR 285 million of project bonds, InfraNews writes about the consequent ‘BBB’ credit rating with a stable outlook – a result of Abengoa Solar’s significant experience in operating concentrated solar power (CSP) projects. The bonds will be used to refinance two 50 Mega Watt CSP projects, Solaben …

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