European Infrastructure Finance Yearbook - Investing In Bonds ...

CONTENTS
Introduction
STANDARD & POOR’S EUROPEAN INFRASTRUCTURE FINANCE YEARBOOK
CONTENTS
2007: New Challenges And Threats, But Sector Remains Robust 3
Michael Wilkins
Infrastructure Commentaries
How Infrastructure Assets Have Weathered A Decade Of Storms 4
Lidia Polakovic, Michael Wilkins, Jonathan Manley, and Peter Kernan
The Changing Face Of Infrastructure Finance: Beware The Acquisition Hybrid 8
Michael Wilkins and Taron Wade
European Utilities 12
Credit FAQ: Assessing The Credit Implications Of EC Legislative Proposals For 13
The Internal Energy Market
Peter Kernan and Beatrice de Taisne
Nuclear Power In The EU: The Sleeping Giant Is Only Gradually Waking Up 17
Hugues de la Presle and Peter Kernan
Volts And Jolts: What To Expect As Russia Restructures Its Power Markets 22
Eugene Korovin and Peter Kernan
Combating Climate Change InThe EU: Risks And Rewards For European Utilities 33
Peter Kernan, Michael Wilkins, Mark Schindele, and Hugues de la Presle
Summary analyses
Electricite de France S.A. 40
Endesa S.A. 41
Enel SpA 42
E.ON AG 43
Gaz de France S.A. 44
Iberdrola S.A. 45
RWE AG 46
Scottish and Southern Energy PLC 47
Suez S.A. 48
Vattenfall AB 49
Transportation Infrastructure 51
Skies Remain Clear For European Airports, Governance Increasingly Important
Alexandre de Lestrange and Lidia Polakovic
52
BAA Ltd. 56
Alexandre de Lestrange and Michael Wilkins
Channel Link Enterprises Finance PLC 67
Alexandre de Lestrange, Michela Bariletti, and Michael Wilkins
NOVEMBER 2007 ■ 1