PARIS (Standard&Poor's) April 27, 2007--Standard&Poor's Ratings Services said today that it affirmed its 'BBB+/A-2' long- and short-term corporate credit and all debt ratings on France-based environmental services group Veolia Environnement S.A. (VE). The outlook is stable. "The affirmation follows VE's announcement of its acquisition of Sulo, Germany's second-largest waste management company, for an enterprise value of €1.45 billion," said Standard&Poor's credit analyst Hugues de la Presle. The affirmation reflects that VE has the flexibility within the current ratings for this acquisition. In addition, Sulo is a profitable and well-established player and will provide VE with a leading position in the large German waste management market, in which it currently only has a limited presence.
