Moody’s: China General Nuclear to stable

Moody's Investors Service said it changed the outlooks on China General Nuclear Power Corp.'s (CGN) A3 long-term issuer rating, the A3 senior unsecured ratings of CGNPC International Ltd. and China Uranium Development Co. Ltd. under CGN's guarantee and the Baa1 senior unsecured rating of China Clean Energy Development Ltd. guaranteed by CGNPC International and supported by a Keepwell deed from CGN, to stable from negative.

At the same time, the agency affirmed all ratings.

"The change in ratings outlook to stable from negative reflects CGN's progress made in constructing its third generation nuclear units, thereby lowering the degree of execution challenges to a level that is more consistent with stable outlook," Moody's vice president and senior analyst Ada Li said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.