Spectator on facebook

Spectator on facebook

Fitch maintains SPP on RWN

The international rating agency Fitch has maintained the long-term foreign and local currency Issuer Default Ratings (IDR) of the Slovenský Plynárenský Priemysel (SPP) gas utility on Rating Watch Negative (RWN). The ratings were placed on RWN on December 20, 2012, the Reuters newswire reported on June 7.

The international rating agency Fitch has maintained the long-term foreign and local currency Issuer Default Ratings (IDR) of the Slovenský Plynárenský Priemysel (SPP) gas utility on Rating Watch Negative (RWN). The ratings were placed on RWN on December 20, 2012, the Reuters newswire reported on June 7.

The rating reflects the continued potential that SPP will undergo internal restructuring following the ownership change in January 2013. At the moment the 51-percent stake is controlled by the state-run National Property Fund, Czech Energetický a Průmyslový Holding controls a 49-percent minority share, the SITA newswire wrote.

The SPP shareholders are considering, as one of several options, a spin-off of the gas supply segment from SPP, and additional changes in the internal group structure that could result in SPP holding 51 percent, instead of 100 percent, in key cash flow generating subsidiaries, i.e. SPP Distribúcia and Eustream. This may, according to Fitch, in turn affect SPP’s cash flow and credit metrics because there may be a focus on received dividends rather than consolidated profile.

The current IDR of SPP stands at A-. Fitch plans to resolve the RWN once the final group structure is determined, Reuters wrote.

Source: Reuters, SITA

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Crematorium in Bratislava is an architectural revelation Photo

Those who have experienced farewells in other crematoria know what makes it special. Now the best work by the architect Ferdinand Milučký is getting a monograph

Crematorium in Bratislava by architect Ferdinand Milučký

What kind of expectations do some Slovaks have for world leaders?

Among EU member states, opinions of the United States declined in all but two — Poland (which makes some sense) and Slovakia (which does not).

Donald Trump

Crates and boxes. Slovaks discover new ways of grocery shopping

Farmer’s boxes are gaining customers in Slovakia as people slowly become more conscious about quality and the origin of the food they eat.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between January 19 and January 28, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Scandi 4