Home Credit Ratings and Research S&P Global Ratings’ Credit Research Gas Natural SDG S.A.

Gas Natural SDG S.A.

Published Jan 28, 2013

4520 words — Published Jan 28, 2013

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Abstract:

Strengths: Substantial share of low-risk regulated gas and electricity distribution activities, mainly in Spain but also in Latin America. Improved geographic and business diversification mainly linked to international gas midstream operations and business in Latin America. Industrial and commercial integration of electricity and gas business in Spain. Weaknesses: Exposure to the weak electricity and gas markets in Spain. Ongoing exposure to the imbalance between tariffs and costs in the electricity sector. The ratings on Spanish power and gas company Gas Natural SDG S.A. (Gas Natural) reflect Standard&Poor's Ratings Services' view of the company's "strong" business risk profile and "significant" financial risk profile. Gas Natural's business risk profile is supported by the company's resilient performance despite the recession in

Brief Excerpt:

RESEARCH Gas Natural SDG S.A. Publication date: 28-Jan-2013 Primary Credit Analyst: Vittoria Ferraris, Milan (39) 02-72111-207; vittoria_ferraris@standardandpoors.com Secondary Credit Analyst: Nicolas Riviere, Paris (33) 1-4420-6709;...

Report Type:

Full Report

Ticker

CTG@SM

Issuer

Gas Natural SDG S.A.

GICS

Gas Utilities (55102010)

Sector

Global Issuers

Country

Spain

Region

Europe, Middle East, Africa

Format:

HTML

Research Update: Spanish Utility Gas Natural SDG S.A. Outlook Revised To Stable After Criteria Review; 'BBB/A-2' Ratings Affirmed – 2013/11/28 – US$ 225.00

Spanish Utility Gas Natural SDG S.A. Outlook Revised To Stable After Criteria Review; 'BBB/A-2' Ratings Affirmed – 2013/11/28 – US$ 150.00

Gas Natural SDG S.A. – 2014/02/05 – US$ 500.00

Summary: Gas Natural SDG S.A. – 2014/02/05 – US$ 225.00

Bulletin: Spanish Gas Natural And Subsidiaries Ratings And Outlooks Remain Unchanged On The Announced Acquisition Of Chile's CGE – 2014/10/14 – Free

Summary: Gas Natural SDG S.A. – 2013/01/28 – US$ 225.00

Summary: Gas Natural SDG S.A. – 2013/01/08 – US$ 225.00

Spanish Utility Gas Natural SDG Outlook Revised To Negative After Sovereign Action; 'BBB/A-2' Ratings Affirmed . – 2012/10/15 – US$ 150.00

Research Update: Spanish Utility Gas Natural SDG Outlook Revised To Negative After Sovereign Action; 'BBB/A-2' Ratings Affirmed . – 2012/10/15 – US$ 225.00

Summary: Gas Natural SDG S.A. – 2012/08/01 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Gas Natural SDG S.A." Jan 28, 2013. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Gas-Natural-SDG-S-A-1067827>

APA:	S&P Global Ratings’ Credit Research. (). Gas Natural SDG S.A. Jan 28, 2013. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Gas-Natural-SDG-S-A-1067827>

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