On Oct. 18, 2012, we affirmed our 'BBB' long-term corporate credit rating on Spain-based infrastructure operator Abertis Infraestructuras S.A. (Abertis), following our downgrade of Spain to 'BBB-/A-3'. We equalize our long-term corporate credit rating on France-based toll road operator Sanef with that on Abertis to reflect the strategic importance of Sanef for Abertis. We are therefore affirming our 'BBB/A-2' long- and short-term corporate credit ratings on Sanef. The negative outlook on Sanef reflects that on Abertis. We could lower our ratings on Sanef if we downgrade Abertis. LONDON (Standard&Poor's) Oct. 18, 2012--Standard&Poor's Ratings Services affirmed its 'BBB/A-2' long- and short-term corporate credit ratings on French toll road network operator Sanef. The outlook is negative. At the
