| Title: | Summary: Societe Nationale des Chemins de Fer Belges Holding |
| Price: | $175.00 |
| Publication Date: | Dec 05, 2007 |
| Report Type: | Summary |
| Abstract: | The ratings on 100% state-owned Belgian national railroad corporation Societe Nationale des Chemins de Fer Belges Holding (SNCB Holding) reflect its public-policy role as the national public-transport provider and its reliance on very large subsidies from the Kingdom of Belgium (AA+/Stable/A-1+). Standard&Poor's Ratings Services regards SNCB Holding as a public-policy based, government-related entity, in view of the absence of any medium-term privatization prospects for its rail operating and infrastructure subsidiaries as well as its legal status as an autonomous public company. In addition, we expect no real competition over the short to medium term. The company would be unable to operate without state subsidies, which have remained consistent and timely. The SNCB group, incorporating SNCB Holding subsidiaries INFRABEL |
| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Societe Nationale des Chemins de Fer Belges Holding Publication date: ##-Dec-#### Primary Credit Analyst: Karim Nassif, London (##) ##-####-####; karim_nassif@standardandpoors.com Secondary Credit... |
| Word Count: | 1047 |
| Ticker: | 5478Z |
| Issuer: | Societe Nationale des Chemins de Fer Belges Holding |
| GICS: | Railroads (20304010) |
| Sector: | Global Issuers, Sovereigns, Corporations, Transportation |
| Country: | Belgium |
| Region: | Europe, Middle East, Africa |
| Format: | 
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