France-Based Toll Road Operator Sanef Ratings Affirmed At 'BBB/A-2'; Then Withdrawn At Issuer's Request - S&P Global Ratings’ Credit Research

France-Based Toll Road Operator Sanef Ratings Affirmed At 'BBB/A-2'; Then Withdrawn At Issuer's Request

France-Based Toll Road Operator Sanef Ratings Affirmed At 'BBB/A-2'; Then Withdrawn At Issuer's Request - S&P Global Ratings’ Credit Research
France-Based Toll Road Operator Sanef Ratings Affirmed At 'BBB/A-2'; Then Withdrawn At Issuer's Request
Published Feb 14, 2013
1015 words — Published Feb 14, 2013
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Abstract:

LONDON (Standard&Poor's) Feb. 14, 2013--Standard&Poor's Ratings Services said today that it affirmed its 'BBB' long-term and 'A-2' short-term corporate credit ratings on France-based toll road network operator Sanef. We subsequently withdrew these ratings at the issuer's request. At the time of the withdrawal, the outlook on Sanef was negative. At the time of the withdrawal, the long-term rating on Sanef was equalized with our 'BBB' rating on its controlling shareholder, Spain-based infrastructure operator Abertis Infraestructuras S.A. (Abertis; BBB/Negative/--). The equalization reflected our view that Abertis would provide timely and sufficient extraordinary support to Sanef in the event of financial distress. This support stems from Sanef's strategic importance to Abertis, and Sanef's large contribution to Abertis' consolidated

  
Brief Excerpt:

RESEARCH France-Based Toll Road Operator Sanef Ratings Affirmed At '###/A-2'; Then Withdrawn At Issuer's Request Publication date: 14-Feb-2013 Primary Credit Analyst: Maria Lemos, CFA, London (44) 20-7176-3749; maria_lemos@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
SNF@FP
Issuer
GICS
Highways & Railtracks (20305020)
Sector
Global Issuers, Structured Finance
Country
Region
Europe, Middle East, Africa
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "France-Based Toll Road Operator Sanef Ratings Affirmed At 'BBB/A-2'; Then Withdrawn At Issuer's Request" Feb 14, 2013. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/France-Based-Toll-Road-Operator-Sanef-Ratings-Affirmed-At-BBB-A-2-Then-Withdrawn-At-Issuer-s-Request-1077826>
  
APA:
S&P Global Ratings’ Credit Research. (). France-Based Toll Road Operator Sanef Ratings Affirmed At 'BBB/A-2'; Then Withdrawn At Issuer's Request Feb 14, 2013. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/France-Based-Toll-Road-Operator-Sanef-Ratings-Affirmed-At-BBB-A-2-Then-Withdrawn-At-Issuer-s-Request-1077826>
  
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