S&P affirms Abengoa

Standard & Poor's said it affirmed the B+ long-term corporate credit rating on Abengoa SA.

S&P also said it assigned a B short-term corporate credit rating to the company and affirmed the B+ issue ratings on its €300 million and €500 million senior unsecured notes and on the $650 million senior unsecured notes issued by Abengoa Finance SAU.

The recovery rating on these instruments is 4, reflecting 30% to 50% expected recovery in a default.

The outlook is stable.

The ratings reflect a continued assessment of Abengoa's business risk profile as fair and its highly leveraged financial risk profile, S&P said.

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