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S&P Credit Research3126 word report
published Oct 23, 2009
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S&P Credit Research
| Abstract: | A "very high" likelihood of timely and sufficient extraordinary support from Landsvirkjun's owners, the Republic of Iceland, in case of financial distress. Dominant position in the Icelandic electricity market as the largest generator and the monopoly transmission system operator. Aggressive financial profile owing to sizable debt-financed expansion of power generation capacity. Customer concentration in the small and isolated Icelandic power market. Significant exposure to aluminum prices for revenues. The 'BB' ratings on Iceland-based 100% state-owned utility Landsvirkjun reflect Standard&Poor's Ratings Services' opinion that there is a "very high" likelihood that the Republic of Iceland (foreign currency BBB-/Negative/A-3; local currency BBB+/Negative/A-2) would provide timely and sufficient extraordinary support to Landsvirkjun in the event of financial distress. Standard&Poor's
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| Brief Excerpt: | RESEARCH Ratings Definitions Landsvirkjun Publication date: 23-Oct-2009 Primary Credit Analyst: Karin Erlander, London (44) 20-7176-3584; karin_erlander@standardandpoors.com Secondary Credit Analyst: Mark Schindele, Stockholm (46)...
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| Report Type: | Full Report
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| Ticker: | 1000Z@IR
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| Issuer: | Landsvirkjun
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| GICS: | Electric Utilities (55101010)
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| Sector: | Global Issuers
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| Country: | Iceland
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| Region: | Europe, Middle East, Africa
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| Free Sample: |
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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.
Also from S&P Credit Research
- Summary: Landsvirkjun $175.00
The 'BB' ratings on Iceland-based 100% state-owned utility Landsvirkjun reflect Standard&Poor's Ratings Services' opinion that there is a "very high" likelihood that the Republic of Iceland (foreign currency BBB-/Negative/A-3; local currency ...
- Summary: Landsvirkjun $175.00
The 'BB' ratings on Iceland-based 100% state-owned utility Landsvirkjun reflect Standard&Poor's Ratings Services' opinion that there is a "very high" likelihood that the Republic of Iceland (foreign currency BBB-/Negative/A-3; local currency ...
- S&PCORRECT: Iceland-Based Utility Landsvirkjun's $2.5 Billion Euro Medium-Term Note Program Placed On Watch Negative $100.00
London (Standard&Poor's) June 17, 2009--Standard&Poor's Ratings Services today corrected an administrative error relating to its 'A-3' short-term rating on Iceland-based utility Landsvirkjun's $2.5 billion senior unsecured euro medium-term ...
- Ratings On Iceland-Based Utility Landsvirkjun On CreditWatch Negative Due To Weak Liquidity And Business Outlook $100.00
LONDON (Standard&Poor's) May 8, 2009--Standard&Poor's Ratings Services said today that it placed its 'BBB-' long-term and 'A-3' short-term foreign and local currency corporate credit ratings on Iceland-based utility Landsvirkjun on CreditWatch ...
- Research Update: Ratings On Iceland-Based Utility Landsvirkjun On CreditWatch Negative Due To Weak Liquidity And Business Outlook $175.00
On May 8, 2009, Standard&Poor's Ratings Services placed its 'BBB-' long-term and 'A-3' short-term foreign and local currency corporate credit ratings on Iceland-based utility Landsvirkjun on CreditWatch with negative implications. The CreditWatch ...
- Landsvirkjun Local Currency Rating Cut To 'BBB-' On Weaker Sovereign; Outlook Negative $100.00
LONDON (Standard&Poor's) Dec. 18, 2008--Standard&Poor's Ratings Services said today that it lowered its long-term and short-term local currency ratings on Iceland-based electricity generation and transmission company Landsvirkjun to 'BBB-' ...
- Research Update: Landsvirkjun Local Currency Rating Cut To 'BBB-' On Weaker Sovereign; Outlook Negative $175.00
On Dec. 18, 2008, Standard&Poor's Ratings Services lowered its long-term and short-term local currency ratings on Iceland-based electricity generation and transmission company Landsvirkjun to 'BBB-' and 'A-3', respectively, from 'BBB+' and ...
- Landsvirkjun Foreign Currency Rating Cut To 'BBB-' On Iceland Downgrade; Outlook Negative $100.00
LONDON (Standard&Poor's) Nov. 24, 2008--Standard&Poor's Ratings Services said today that it lowered its long-term foreign currency rating on Iceland-based electricity generation and transmission company Landsvirkjun to 'BBB-' from 'BBB'. At ...
