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BULLETIN: China's Panva Gas Rating Unchanged By Proposed Restructure Apr 05
Standard & Poors, April 2005
Abstract
HONG KONG (Standard & Poor's) April 12, 2005--Standard & Poor's Ratings Services said today that its rating on Panva Gas Holdings Ltd. (Panva; BB+/Stable/--) would not be affected by the company's recent proposal to change its ownership structure. After the restructure, Enerchina Holdings Ltd. (Enerchina), currently an affiliate of Panva and controlled by Sinolink Worldwide Holdings Ltd. (Sinolink), will become Panva's parent company. Panva's current parent, Sinolink, will continue to control Panva indirectly through Enerchina. While Enerchina has a higher risk profile than Panva, Standard & Poor's has already factored in the credit profile of the consolidated group under Sinolink in analyzing Panva; accordingly, the proposed group restructure will have no impact on the ratings on Panva....
Companies mentioned in this report are: Towngas China Co. Ltd.
Action: Bulletin
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 factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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