Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Naturgy Energy Group S.A.

Spain-Based Gas Natural 'A+/A-1' Ratings Still On Watch Neg As Endesa Bidding Process Evolves

Published Apr 28, 2006

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

MADRID (Standard&Poor's) April 28, 2006--Standard&Poor's Ratings Services said today that its 'A+' long-term and 'A-1' short-term corporate credit ratings on Spanish utility Gas Natural SDG, S.A. remain on CreditWatch with negative implications, amid recent developments in the competing bidding process for Spanish utility Endesa S.A. (A/Watch Neg/A-1). The ratings were placed on CreditWatch on Sept. 6, 2005, following the company's €22.55 billion bid for a 100% stake in Endesa--viewed as hostile by Endesa's board of directors. On Feb. 21, 2006, German utility E.ON AG (AA-/Watch Neg/A-1+) launched a conditional €29.1 billion all-cash counterbid for up to 100% of Endesa. The bidding process' complexity has increased as a result of events since Standard&Poor's last CreditWatch

Report Type:

Ratings Action

Ticker

CTG@SM

Issuer

Naturgy Energy Group S.A.

GICS

Gas Utilities (55102010)

Sector

Global Issuers, Structured Finance

Country

Spain

Region

Europe, Middle East, Africa

Format:

HTML

Spanish Utility Gas Natural Still On Watch Neg Amid Developments In Bidding Process For Endesa – 2007/01/19 – US$ 150.00

Research Update: Spanish Utility Gas Natural Still On Watch Neg Amid Developments In Bidding Process For Endesa – 2007/01/19 – US$ 225.00

Spain's Gas Natural 'A+/A-1' Affirmed On Withdrawal Of Bid For Endesa; Off Watch; Outlook Neg – 2007/02/05 – US$ 150.00

Research Update: Spain's Gas Natural 'A+/A-1' Affirmed On Withdrawal Of Bid For Endesa; Off Watch; Outlook Neg – 2007/02/05 – US$ 225.00

Summary: Gas Natural SDG, S.A. – 2007/06/12 – US$ 225.00

Research Update: Spain-Based Gas Natural 'A+/A-1' Ratings Still On Watch Neg As Endesa Bidding Process Evolves – 2006/04/28 – US$ 225.00

Gas Natural 'A+/A-1' Ratings Still On Watch Neg; Law To Affect Spain's Electricity Pool Market – 2006/03/08 – US$ 150.00

Research Update: Gas Natural 'A+/A-1' Ratings Still On Watch Neg; Law To Affect Spain's Electricity Pool Market – 2006/03/08 – US$ 225.00

Gas Natural S.A. 'A+/A-1' Ratings Remain On CreditWatch Negative Following E.ON Bid For Endesa – 2006/02/23 – US$ 150.00

Research Update: Gas Natural S.A. 'A+/A-1' Ratings Remain On CreditWatch Negative Following E.ON Bid For Endesa – 2006/02/23 – 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.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Spain-Based Gas Natural 'A+/A-1' Ratings Still On Watch Neg As Endesa Bidding Process Evolves" Apr 28, 2006. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Spain-Based-Gas-Natural-A-A-1-Ratings-Still-On-Watch-Neg-As-Endesa-Bidding-Process-Evolves-505932>

APA:	S&P Global Ratings’ Credit Research. (). Spain-Based Gas Natural 'A+/A-1' Ratings Still On Watch Neg As Endesa Bidding Process Evolves Apr 28, 2006. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Spain-Based-Gas-Natural-A-A-1-Ratings-Still-On-Watch-Neg-As-Endesa-Bidding-Process-Evolves-505932>

US$ 150.00

$ £ €

Have a Question?

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

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.