Research Update: Gas Natural SDG S.A. Long-Term Rating Cut To 'A'; Short-Term Affirmed At 'A-1'; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Gas Natural SDG S.A. Long-Term Rating Cut To 'A'; Short-Term Affirmed At 'A-1'; Outlook Stable

Research Update: Gas Natural SDG S.A. Long-Term Rating Cut To 'A'; Short-Term Affirmed At 'A-1'; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Gas Natural SDG S.A. Long-Term Rating Cut To 'A'; Short-Term Affirmed At 'A-1'; Outlook Stable
Published Feb 21, 2008
1079 words — Published Feb 21, 2008
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Feb. 21, 2008, Standard&Poor's Ratings Services lowered its long-term corporate credit rating on Spanish utility Gas Natural SDG, S.A. to 'A' from 'A+' following a review of the group's 2008-2012 strategic plan. At the same time, the 'A-1' short-term corporate credit rating was affirmed. The outlook is stable. The downgrade reflects our view that Gas Natural's strategic plan is not compatible with an 'A+' rating, due to an expected weakening in the group's financial profile and credit protection measures owing to the group's growth and diversification plans. We also expect a gradual increase in the business risk of the group, with an expected reduction of the domestic regulated gas operations' relative earnings contribution and an increased earnings

  
Brief Excerpt:

RESEARCH Research Update: Gas Natural SDG S.A. Long-Term Rating Cut To 'A'; Short-Term Affirmed At 'A-1'; Outlook Stable Publication date: 21-Feb-2008 Primary Credit Analyst: Ana Nogales, Madrid (34) 91-788-7206; ana_nogales@standardandpoors.com...

  
Report Type:

Research Update

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 HTML
Buy Now

More from S&P Global Ratings’ Credit Research

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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Gas Natural SDG S.A. Long-Term Rating Cut To 'A'; Short-Term Affirmed At 'A-1'; Outlook Stable" Feb 21, 2008. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Gas-Natural-SDG-S-A-Long-Term-Rating-Cut-To-A-Short-Term-Affirmed-At-A-1-Outlook-Stable-631904>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Gas Natural SDG S.A. Long-Term Rating Cut To 'A'; Short-Term Affirmed At 'A-1'; Outlook Stable Feb 21, 2008. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Gas-Natural-SDG-S-A-Long-Term-Rating-Cut-To-A-Short-Term-Affirmed-At-A-1-Outlook-Stable-631904>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.