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European rating agency. Objective, transparent, independent.

Autoroutes du Sud de la France S.A.

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
BBB+ Outlook STA 07.04.2022 12.04.2022
BBB+ Outlook STA 13.04.2021 16.04.2021
A- Outlook NEG 24.04.2020 29.04.2020
A- Outlook STA 09.08.2019 20.08.2019
A- Outlook STA 12.04.2017 24.04.2017

News

  • 12.04.2022
    Creditreform Rating has affirmed the unsolicited corporate issuer rating of Autoroutes du Sud de la France S.A. at BBB+. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Autoroutes du Sud de la France S.A. at BBB+. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings remain stable. For more details regarding the ratings, please refer to our rating update below.
  • 16.04.2021
    Creditreform Rating AG downgraded the unsolicited corporate issuer rating of Autoroutes du Sud de la France S.A. from A- to BBB+. The outlook has been revised from negative to stable. The rating result is currently constrained by the unsolicited corporate issuer rating of its parent company VINCI S.A. (BBB+ / stable) because of its significant influence on ASF´s rating. Additionally, we believe that the current business year will also underperform against 2019 as severe containment measures remain in place and uncertainty with regard to the further course of the pandemic remains. The outlook has been revised from negative to stable because we already anticipate a lower than average performance for the current business year.
  • 29.04.2020
    Creditreform Rating has changed the outlook of the unsolicited corporate issuer rating of Autoroute du Sud de la France S.A. (ASF) from stable to negative. This change is based on an expected substantial decline in average daily traffic due to current border and social restrictions in France and an expected economic downturn caused by the COVID 19 pandemic in 2020. We anticipate that these temporary effects will lower the revenues and weaken the earnings capacity of ASF, adversely affecting its financial metrics. Also the rating of the parent company VINCI S.A. limits ASF´s rating (VINCI S.A.: A- / negative, as of 24 April 2020). However, we see the Company as well-prepared for the crisis, due to its sound financial metrics, in particular its liquidity and profitability, confirming its rating at A-.
  • 20.08.2019
    Creditreform Rating has carried out an unsolicited rating of Autoroute du Sud de la France (ASF) S.A. The rating has been set to A- with stable outlook.
  • 24.04.2017
    Creditreform Rating has carried out an unsolicited corporate rating of Autoroute du Sud de la France S.A.