European Infrastructure Finance Yearbook - Investing In Bonds ...
European Infrastructure Finance Yearbook - Investing In Bonds ...
European Infrastructure Finance Yearbook - Investing In Bonds ...
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Utilities<br />
Standard & Poor's <strong><strong>In</strong>frastructure</strong> <strong>Finance</strong> Ratings<br />
Name Issuer credit rating* Country<br />
Israel Electric Corp. Ltd. BBB+/Negative/-- Israel<br />
Kazakhstan Electricity Grid Operating Co. (JSC) BB+/Stable/-- Kazakhstan<br />
KazTransGas BB/Stable/-- Kazakhstan<br />
KazTransOil BB+/Positive/-- Kazakhstan<br />
KELAG AG A+/Negative/-- Austria<br />
Kelda Group PLC A-/Stable/A-2 U.K.<br />
Landsvirkjun Foreign currency A+/Negative/A-1 Iceland<br />
Lietuvos Energija A-/Negative/A-2 Lithuania<br />
Lunds Energikoncernen AB (publ) BBB+/Stable/A-2 Sweden<br />
Mosenergo (AO) BB/Stable/-- Russia<br />
N.V. Nederlandse Gasunie AA+/Stable/A-1+ The Netherlands<br />
N.V. NUON A+/Negative/A-1 The Netherlands<br />
National Central Cooling Co. PJSC BBB-/Stable/-- United Arab Emirates<br />
National Grid PLC A-/Stable/A-2 U.K.<br />
Natsionalna Elektricheska Kompania EAD BB/Developing/-- Bulgaria<br />
Northern Gas Networks Holdings Ltd. BBB+/Stable/-- U.K.<br />
Northumbrian Water Ltd. BBB+/Stable/-- U.K.<br />
Polish Oil and Gas Co. BBB+/Stable/-- Poland<br />
Public Power Corp. S.A. BBB+/Stable/-- Greece<br />
Rand Water Foreign currency BBB+/Stable/-- South Africa<br />
RAO UES of Russia BB/Watch Pos/-- Russia<br />
Red Electrica de Espana S.A. AA-/Stable/A-1+ Spain<br />
RWE AG A+/Negative/A-1 Germany<br />
Saudi Electric Co. AA-/Stable/-- Saudi Arabia<br />
S.C. Hidroelectrica S.A. BB/Positive/-- Romania<br />
Scotland Gas Networks PLC BBB/Positive/-- U.K.<br />
Southern Gas Networks PLC BBB/Positive/-- U.K.<br />
Scottish and Southern Energy PLC A+/Stable/A-1 U.K.<br />
Scottish Power PLC A-/Watch Neg/A-2 U.K.<br />
Severn Trent PLC A/Stable/A-1 U.K.<br />
Sociedad General de Aguas de Barcelona S.A. A/Stable/A-1 Spain<br />
South East Water (<strong>Finance</strong>) Ltd. Senior secured guaranteed AAA; senior secured BBB U.K.<br />
South Staffordshire PLC A-/Watch Neg/A-2 U.K.<br />
Southern Water Services Ltd. Bank loan A- U.K.<br />
S.N.T.G.N. Transgaz S.A. Medias BB+/Positive/-- Romania<br />
Statkraft AS BBB+/Stable/A-2 Norway<br />
Statnett SF AA/Stable/A-1+ Norway<br />
Suez S.A. A-/Watch Pos/A-2 France<br />
Sutton and East Surrey Water PLC BBB+/Stable/-- U.K.<br />
Tekniska Verken i Linkoeping AB A-/Stable/A-2 Sweden<br />
Terna SpA AA-/Stable/A-1+ Italy<br />
Thames Water Utilities Ltd. BBB+/Watch Neg/-- U.K.<br />
Union Fenosa S.A. BBB+/Stable/A-2 Spain<br />
United Utilities PLC A/Watch Neg/A-1 U.K.<br />
Vattenfall AB A-/Stable/A-2 Sweden<br />
Veolia Environnement S.A. BBB+/Stable/A-2 France<br />
Vodokanal St. Petersburg BB+/Positive/B Russia<br />
Three Valleys Water PLC<br />
Verbundgesellschaft (Oesterreichische<br />
A-/Stable/-- U.K.<br />
Elektrizitaetswirtschafts Aktiengesellschaft) A/Stable/-- Austria<br />
Wasser und Gas Westfalen GmbH BBB+/Stable/-- Germany<br />
Wessex Water Services Ltd. BBB+/Stable/-- U.K.<br />
Western Power Distribution Holdings Ltd.<br />
*At Nov. 8, 2007. All ratings are issuer credit ratings unless otherwise stated.<br />
BBB-/Stable/A-3 U.K.<br />
STANDARD & POOR’S EUROPEAN INFRASTRUCTURE FINANCE YEARBOOK<br />
RATINGS LIST<br />
NOVEMBER 2007 ■ 145
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