FTimes - STT Report, Oct. 6
Photo – Lehtikuva.
French nuclear power company Areva is set to cut its investments in order to maintain its credit rating, according to press reports.
The company's credit rating is threatened to be relegated to junk category and many investment funds cannot keep junk rated securities.
According to French weekly magazine Le Journal du Dimanche, credit ratings agency Standard & Poor's (S&P) has informed that Areva's credit rating will remain unchanged as long as they balance their finances by cutting costs and through the sale of its assets.
Areva has been lingering above the junk category since S&P downgraded its credit rating in 2011.
One burden faced by the company has been costs incurred due to delay of projects.
In Finland, there have been several delays at the Olkiluoto 3 nuclear power plant construction site.
