S&P affirms ENN Energy

Standard & Poor's said it affirmed the BBB- long-term corporate credit rating and cnA- Greater China regional scale rating on ENN Energy Holdings Ltd.

The outlook is stable.

S&P also said it affirmed the BBB- issue rating and cnA- Greater China regional scale rating on the company's outstanding senior unsecured notes.

All of the ratings were removed from CreditWatch, where they were placed with negative implications in December 2011.

The affirmations reflect the company's decision not to go ahead with a joint cash offer to acquire China Gas Holdings Ltd., which has reduced the risk of a deterioration in its financial risk profile, said Johnson Ng, an S&P analyst.

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