| Abstract: | The ratings on state-owned national railway company Société Nationale des Chemins de Fer Français (SNCF) are based on its ownership by the Republic of France (AAA/Stable/A-1+), its socioeconomic importance, and consequently Standard&Poor's Ratings Services' expectation of very strong timely state support for SNCF's obligations. By contrast, on a stand-alone basis, SNCF's financial profile remains weak. The SNCF parent company is the national rail transport provider in France. It is 100% state owned and benefits from a close relationship with, and support from, its owner. The government does not have any privatization plans. With consolidated revenues of €23.7 billion in 2007, up 4.3% on 2006 figures on a pro forma basis, SNCF is one of Europe's largest rail companies.
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Societe Nationale des Chemins de Fer Francais Publication date: 20-Aug-2008 Primary Credit Analyst: Florian De chaisemartin, London (44) 20-7176-3760; florian_dechaisemartin@standardandpoors.com...
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| Report Type: | Summary
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| Ticker: | 224507Z
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| Issuer: | Societe Nationale des Chemins de Fer Francais
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| GICS: | Railroads (20304010)
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| Sector: | Corporations, Global Issuers, Sovereigns, Transportation
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| Country: | France
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| Region: | Europe, Middle East, Africa
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| Free Sample: |
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| Format: | | HTML |  |
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