Societe des Transports Intercommunaux de Bruxelles Affirmed At 'AA/A-1+'; Outlook Stable - 2007/05/07 - S&P Credit Research

Report title: Societe des Transports Intercommunaux de Bruxelles Affirmed At 'AA/A-1+'; Outlook Stable

from S&P Credit Research
663 word report published May 07, 2007

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Abstract:

PARIS (Standard&Poor's) May 7, 2007--Standard&Poor's Ratings Services said today that it affirmed its 'AA/A-1+' long- and short-term issuer credit ratings on SociTtT des Transports Intercommunaux de Bruxelles (STIB), the transport operator for the Region of Brussels-Capital (RBC; AA/Stable/--). The outlook is stable. "The ratings primarily reflect the strong financial support STIB receives from RBC," said Standard&Poor's credit analyst Bertrand de Dianous. In particular, the region ensures STIB's financial balance through annual transfers, and formally guarantees STIB's long-term borrowings. The ratings take into consideration STIB's sound financial performance and relatively moderate debt burden, reflecting the fact that STIB does not bear the costs related to heavy infrastructure projects or network extensions, which the region assumes

Brief Excerpt:

RESEARCH Ratings Definitions Societe des Transports Intercommunaux de Bruxelles Affirmed At '##/A-1+'; Outlook Stable Publication date: 07-May-2007 PARIS (Standard & Poor's) May 7, 2007--Standard & Poor's Ratings Services said today...

Report Type:

Ratings Action

Issuer:

Societe des Transports Intercommunaux de Bruxelles

GICS:

Railroads (20304010)

Sector:

Global Issuers, International Public Finance, Transportation

Country:

Belgium

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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Societe des Transports Intercommunaux de Bruxelles $400.00
Almost certain likelihood that government owner Region of Brussels-Capital would provide timely and sufficient support to STIB in the event of financial stress. Integral link with and critical role for the region. Solid budgetary performance ...
Summary: Societe des Transports Intercommunaux de Bruxelles $175.00
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The budgetary performance and debt position of the Belgian Region of Brussels-Capital (RBC) is deteriorating. We have revised the outlook on RBC to stable from positive. Since the outlook on Societe des Transports Intercommunaux de Bruxelles ...
Societe des Transports Intercommunaux de Bruxelles $400.00
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Summary: Societe des Transports Intercommunaux de Bruxelles $175.00
The ratings on Société des Transports Intercommunaux de Bruxelles (STIB), the transport operator for the Region of Brussels-Capital (RBC; AA/Positive/--), primarily reflect the strong institutional integration with and financial support STIB ...
Summary: Societe des Transports Intercommunaux de Bruxelles $175.00
Standard&Poor's Ratings Services has affirmed its 'AA/A-1+' long- and short-term issuer credit ratings on Société des Transports Intercommunaux de Bruxelles (STIB), the transport operator for the Region of Brussels-Capital (RBC; AA/Positive/--). ...
Société des Transports Intercommunaux de Bruxelles Outlook To Pos; 'AA/A-1+' Ratings Affirmed $100.00
PARIS (Standard&Poor's) Oct. 1, 2007--Standard&Poor's Ratings Services said today that it revised its outlook to positive from stable on Société des Transports Intercommunaux de Bruxelles (STIB), the transport operator of the Region of Brussels-Capital ...

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