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Research Update: Cheung Kong Infrastructure 'A-' Rating And Ratings On Australian Entities Placed On CreditWatch Negative Aug 10 Product Image

Research Update: Cheung Kong Infrastructure 'A-' Rating And Ratings On Australian Entities Placed On CreditWatch Negative Aug 10

  • Published: August 2010
  • Standard & Poors

FEATURED COMPANIES

  • CitiPower I Pty Ltd.
  • EDF Energy PLC
  • Hutchison Whampoa Ltd.
  • Powercor Australia LLC
  • The CitiPower Trust
  • MORE

Abstract
A consortium that includes CKI has made an irrevocable offer to acquire a U.K. electricity distribution network for a value of GBP5.775 billion. The acquisition will likely weaken the credit profile of CKI. We placed the 'A-' long-term corporate credit rating on CreditWatch with negative implications. On Aug. 2, 2010, Standard & Poor's Ratings Services placed its 'A-' long-term corporate credit rating on Cheung Kong Infrastructure Holdings Ltd. (CKI) on CreditWatch with negative implications. At the same time, the 'A-' long-term ratings on three Australian electricity distribution businesses--CitiPower Trust, Powercor Australia LLC, and ETSA Utilities Finance Pty Ltd.--were also placed on CreditWatch with negative implications because the companies benefit from parental support. CKI jointly owns a majority stake in these...

Action: On CreditWatch:Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key READ MORE >

- Cheung Kong Infrastructure Holdings Ltd.
- Electricite de France S.A.
- EDF Energy PLC
- Hutchison Whampoa Ltd.
- Powercor Australia LLC
- The CitiPower Trust
- Hutchison Whampoa Finance (CI) Ltd.
- Hongkong Electric Co. Ltd.
- Power Assets Holdings Ltd.
- Hutchison Ports (U.K.) Ltd.
- Hutchison Ports (U.K.) Finance PLC
- CitiPower I Pty Ltd.
- ETSA Utilities Finance Pty Ltd.
- SPI Australia Finance Pty Ltd.
- Hutchison Whampoa International (01/11) Ltd.
- Hongkong Electric Finance Ltd.
- Hutchison Whampoa International (03/13) Ltd.
- Hutchison Whampoa Finance (03/13) Ltd.
- Hutchison Whampoa International (03/33) Ltd.
- Hutchison Whampoa Finance (05) Ltd.
- Hutchison Whampoa Finance (06) Ltd.
- Hutchison Whampoa Finance UK plc
- Hutchison Whampoa International (09) Ltd.
- Hutchison Whampoa International (09/16) Ltd.
- Hutchison Whampoa International (09/19) Ltd.
- Hutchison Whampoa Finance (09) Ltd.

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