S&P dwongrades Areva on Finnish reactor delay

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Standard & Poor's said on Monday it had lowered its rating on French nuclear group Areva by two notches because of delays to the construction of a reactor in Finland.

The agency downgraded Areva to BBB+/A-2 from A/A-1, citing the company's announcement of an additional provision of 400 million euros (493 million dollars) for the Finnish European Pressurised Reactor project.

But it added that its outlook on Areva was "stable," reflecting its view that Areva would likely be able to carry out an disposal program and capital increase, "thus strengthening its balance sheet."

© 2010 AFP

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