S&P rates China Huadian A-

S&P said it assigned its A- long-term issuer credit rating to China Huadian Corp. Ltd.

The outlook is stable.

The agency said the rating reflects the very high likelihood of extraordinary support from the Chinese central government, the company's sole owner.

The rating also reflects the company's very large scale, diverse power-generation assets across China and large and growing clean energy portfolio, including gas power, that benefits from favorable regulations in China, S&P added.

Partially offsetting these strengths are high financial leverage and the regulatory disadvantage faced by the company's coal-fired generation, which is its primary revenue and profit driver, the agency said.

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