S&PCORRECT: French Toll Road Operator Sanef €750 Million Senior Unsecured Debt Rated 'A-' - S&P Global Ratings’ Credit Research

S&PCORRECT: French Toll Road Operator Sanef €750 Million Senior Unsecured Debt Rated 'A-'

S&PCORRECT: French Toll Road Operator Sanef €750 Million Senior Unsecured Debt Rated 'A-' - S&P Global Ratings’ Credit Research
S&PCORRECT: French Toll Road Operator Sanef €750 Million Senior Unsecured Debt Rated 'A-'
Published Feb 23, 2009
Published Feb 23, 2009
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

MADRID (Standard&Poor's) Feb. 23, 2009--Standard&Poor's Rating Services today corrected an administrative error relative to French toll road operator Sanef. On Feb. 18, 2009, we lowered our long-term debt rating to 'A-' from 'AA' on Sanef's €750 million senior unsecured bank facility due 2024 and guaranteed by the monoline insurer MBIA U.K. Insurance Ltd. (BBB+/Negative/--). The lowering of the rating on the facility followed our downgrade of MBIA U.K. Insurance Ltd. to 'BBB+' from 'AA' (for further information on the latter downgrade, please see our Research Update "MBIA Insurance Corp. Ratings Lowered To 'BBB+'; MBIA Insurance Corp. of Illinois Downgraded To 'AA-'," published on Feb. 18, 2009, on RatingsDirect). Instead of the 'A-' rating on Sanef's facility

  
Report Type:

Ratings Action

Ticker
SNF@FP
Issuer
GICS
Highways & Railtracks (20305020)
Sector
Capital Goods, Collateralized Debt Obligations, Corporations, Global Issuers, Structured Finance
Country
Region
Europe, Middle East, Africa
Format:
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Summary: Sanef – 2009/05/15 – US$ 225.00

Sanef – 2009/10/20 – US$ 500.00

Summary: Sanef – 2009/10/20 – US$ 225.00

Sanef – 2010/08/13 – US$ 500.00

Summary: Sanef – 2010/08/13 – US$ 225.00

Summary: Sanef – 2008/11/10 – US$ 225.00

Sanef – 2008/09/08 – US$ 500.00

Summary: Sanef – 2008/09/08 – US$ 225.00

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.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "S&PCORRECT: French Toll Road Operator Sanef €750 Million Senior Unsecured Debt Rated 'A-'" Feb 23, 2009. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-PCORRECT-French-Toll-Road-Operator-Sanef-750-Million-Senior-Unsecured-Debt-Rated-A-704233>
  
APA:
S&P Global Ratings’ Credit Research. (). S&PCORRECT: French Toll Road Operator Sanef €750 Million Senior Unsecured Debt Rated 'A-' Feb 23, 2009. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-PCORRECT-French-Toll-Road-Operator-Sanef-750-Million-Senior-Unsecured-Debt-Rated-A-704233>
  
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