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Moody's upgrades ENN Energy
Moody's Investors Service said it upgraded the issuer rating and senior unsecured rating of ENN Energy Holdings Ltd. to Baa1 from Baa2 and revised the outlook to stable from positive.
"The upgrade reflects ENN Energy's improved credit profile and strong financial metrics, supported by its solid operating performance as well as an improving regulatory environment for the gas sector," said Boris Kan, a Moody's vice president and senior credit officer, in a press release.
Additionally, Moody's said it sees ENN Energy delivering average annual growth of more than 15% in retail gas sales volume over the next two years.
The outlook reflects a forecast the company's credit profile and the regulatory environment will remain stable over the next 12-18 months, the agency said.
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