22 Novembre 2000 , Barcelona
Fitch affirms acesa's aa long-term rating
FITCH, THE INTERNATIONAL RATING AGENCY, AFFIRMS ACESA’S AA LONG-TERM RATING
This grade reflects a very high credit rating. For the second year running, ACESA
has received an AA (very high credit quality) long-term investment grading from
Fitch, the international rating agency, and retains the F1+ rating received in January.
The AA long-term investment grading is Fitch’s second best, and reflects a very high credit quality, low forecast credit risk and a great ability to meet to contracted financial obligations, whilst F1+ is its highest short-term rating and implies a great ability to meet contracted financial commitments. The confirmation of this status means that ACESA continues to possess the highest rating obtained in Spain by private companies.
Fitch’s rating reflects the company’s healthy balance sheet and its high levels of financial cover. It also bears in mind the investment policy born as a response to the growth programme initiated by the Group (both within Spain and abroad) in the motorway, car parking, telecommunications and logistics services industries. The Group has grown significantly in the motorway industry, both in Spain and abroad. Within Spain, it has a 50% shareholding in IBERACESA, the company which manages stakes in Accesos de Madrid (Madrid’s R-3 and R-5 radial motorways) and Autopista Central Gallega (the Santiago-Alto Santo Domingo route in Galicia). Internationally, the group has stakes in Auto-Estradas do Atlântico (Portugal); Autostrade (Italy) and Grupo Concesionario del Oeste (Argentina).
The agency also mentions the shareholding
in the Saba Group, the stakes in the Port Aventura theme park and its entry into
the telecommunications industry via the company Acesa Telecom,S.A., Tradia and
its shareholding in Xfera, a company which has been awarded a Spanish UMTS telephone
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