Consorcio de Transportes de Bizkaia Upgraded To 'AA' After Bizkaia Upgrade; Outlook Stable - 2008/06/19 - S&P Credit Research

Report title: Consorcio de Transportes de Bizkaia Upgraded To 'AA' After Bizkaia Upgrade; Outlook Stable

from S&P Credit Research
922 word report published Jun 19, 2008

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Abstract:

MADRID (Standard&Poor's) June 19, 2008--Standard&Poor's Ratings Services said today that it has raised its long-term issuer credit rating on Consorcio de Transportes de Bizkaia (CTB), the Spanish city of Bilbao's public-transport authority, to 'AA' from 'AA-'. At the same time, the 'A-1+' short-term issuer credit rating was affirmed. The outlook is stable. "The upgrade primarily reflects the recent improvement in the credit quality of one of CTB's government owners, the Historical Territory of Bizkaia, to AA+/Stable/A-1+," said Standard&Poor's credit analyst Lorenzo Pareja. The ratings on CTB reflect the credit quality of its two government owners, the Autonomous Community of the Basque Country (AAA/Stable/--) and the Historical Territory of Bizkaia, as well as these owners'

Brief Excerpt:

RESEARCH Ratings Definitions Consorcio de Transportes de Bizkaia Upgraded To '##' After Bizkaia Upgrade; Outlook Stable Publication date: 19-Jun-2008 Primary Credit Analyst: Lorenzo Pareja, Madrid (34) 91-389-6962; lorenzo_pareja@standardandpoors.com...

Report Type:

Ratings Action

Ticker:

1235Z@SM

Issuer:

Consorcio de Transportes de Bizkaia

GICS:

Railroads (20304010)

Sector:

Global Issuers, International Public Finance, Transportation

Country:

Spain

Region:

Europe, Middle East, Africa

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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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