Monday, 20 May 2013

More ratings woe

China's State Grid Corporation's purchase of Singapore Power’s SP AusNet and a majority stake of its unlisted assets for more than $5 billion has moved ratings agencies to downgrade the Australian provider's credit rating, according to The Financial Review.
The newspaper reported that Standard & Poor’s and Moody’s Investor Services questioned whether the State-owned corporation could offer the same level of support if the assets were in distress. (here)

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