...PARIS (S&P Global Ratings) March 1, 2019--S&P Global Ratings acknowledged today that the recent announcement by Spanish infrastructure and service group Ferrovial S.A. (###/Stable/A-2) that it has classified its service division as "held for sale" as of year-end 2018 is in line with the group's stated strategy to focus on developing infrastructure assets. Ferrovial also announced a 774 million impairment on its investment in U.K. subsidiary Amey. This stems from local budget uncertainties, contractual disputes, and ongoing negotiations with the Birmingham Council. We will review the potential ratings impact on Ferrovial from such projected disposals in the coming weeks, contingent on greater clarity on the precise disposal perimeter as part of the work-in-progress vendor due diligence. Our future analysis will focus on Ferrovial's remaining businesses prospects, business model, and on the expected capital structure to be set up for this new business perimeter. This report does not constitute...
