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Fitch ups International Power
Fitch Ratings said it upgraded International Power plc's issuer default rating to BBB- from BB, following the completion of its acquisition by GDF SUEZ.
The outlook is stable.
GSZ has acquired 70% equity in International Power for its power generation and mid-stream energy assets and has paid £1.4 billion in cash as a special dividend to International Power's shareholders, Fitch said.
The upgrade was driven by credit strengthening support, improved capital market access and sufficient liquidity, Fitch said.
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