 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Paris (AFP) Dec 15, 2010 Standard and Poor's warned Wednesday that it would likely downgrade France's state-owned nuclear services group Areva after it raised significantly less fresh capital than expected. "The rating action reflects the likelihood that we will downgrade by one notch Areva's BBB+ rating as well as its stand-alone credit profile (SACP) of bbb-," Standard & Poor's credit analyst Karl Nietvelt said in a statement. The rating agency said the 900-million-euro capital increase "is well below the 2.0 billion-2.5 billion we expected" and will leave the company with about four billion in net debt at the end of this year. "We intend to resolve the CreditWatch in the coming months, once we have gained further insight into Areva's expected additional disposals..," added Nietvelt. Areva's supervisory board approved over the weekend a 900-million-euro capital hike under which the Kuwait Investment Authority would hold a nearly five percent stake. Areva chief executive Anne Lauvergeon told French lawmakers on Tuesday that she did not think the company needed a further capital increase. "It is clear today that we have no liquidity problems," said Lauvergeon.
Share This Article With Planet Earth
Related Links Nuclear Power News - Nuclear Science, Nuclear Technology Powering The World in the 21st Century at Energy-Daily.com
Areva head opposes new capital increaseParis (AFP) Dec 14, 2010 The head of French nuclear group Areva voiced opposition Tuesday to a fresh capital increase, insisting the company had sufficient liquidity following a 900-million-euro (1.17-billion-dollar) capital hike last week. "Do we need a second round?" Areva chief executive Anne Lauvergeon asked in remarks before the National Assembly's economic affairs committee. "It is clear today that we have ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook
