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

Summary: SES S.A.

Published Mar 14, 2013

2213 words — Published Mar 14, 2013

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

A leading provider of satellite capacity with global scale and strong geographic diversification. Strong asset infrastructure. Good sales and earnings visibility, along with strong profitability. High operational risks inherent to the launch and operation of satellites. Significant cash flow visibility. Very high capital intensity weakening free operating cash flow generation. The stable outlook reflects our view that SES will continue to benefit from moderate revenue growth and stable EBITDA margins over the next two years. This view is supported by significant visibility provided by the group's revenue backlog and sustained demand for its core satellite services. The outlook also takes into account our assumption that SES' financial policy of maintaining unadjusted reported net debt to EBITDA of 3.3x will result

Brief Excerpt:

RESEARCH Summary: SES S.A. Publication date: 14-Mar-2013 Primary Credit Analyst: Franck Rizzoli, London (44) 20-7176-3934; Franck_Rizzoli@standardandpoors.com Secondary Contact: Guillaume Trentin, Paris (33) 1-4420-6736; guillaume_trentin@standardandpoo...

Report Type:

Summary

Ticker

SESG@FP

Issuer

SES S.A.

Sector

Global Issuers, Structured Finance

Country

Luxembourg

Region

United States

Format:

HTML

Summary: SES S.A. – 2014/05/12 – US$ 225.00

SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; 'BBB' Rating Affirmed – 2014/09/17 – US$ 150.00

Research Update: SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; 'BBB' Rating Affirmed – 2014/09/17 – US$ 225.00

Luxembourg-Based Fixed Satellite Services Operator SES 'BBB/A-2' Ratings Affirmed; Outlook Remains Positive – 2015/11/18 – US$ 150.00

Research Update: Luxembourg-Based Fixed Satellite Services Operator SES 'BBB/A-2' Ratings Affirmed; Outlook Remains Positive – 2015/11/18 – US$ 225.00

SES S.A. – 2012/09/19 – US$ 500.00

Summary: SES S.A. – 2012/09/19 – US$ 225.00

Summary: SES S.A. – 2012/06/12 – US$ 225.00

SES S.A. – 2011/09/30 – US$ 500.00

Summary: SES S.A. – 2011/09/30 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: SES S.A." Mar 14, 2013. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-SES-S-A-1094886>

APA:	S&P Global Ratings’ Credit Research. (). Summary: SES S.A. Mar 14, 2013. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-SES-S-A-1094886>

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