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Research Update: Rating On Denmark-Based DONG A/S Cut To 'BBB+' And Removed From CreditWatch; Outlook Stable Jun 05

  • ID: 2026874
  • June 2005
  • Standard & Poors
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FEATURED COMPANIES

  • DONG Energy A/S
  • DONG Energy Power A/S
  • ENERGI E2 A/S
  • Vattenfall AB
  • MORE

Abstract
On June 2, 2005, Standard & Poor's Ratings Services lowered its long-term corporate credit rating on Denmark-based gas and energy company DONG A/S to 'BBB+' from 'A-'. At the same time, Standard & Poor's removed the long-term rating from CreditWatch, where it was placed with negative implications on Feb. 9, 2005. Standard & Poor's affirmed its 'A-2' short-term corporate credit rating on DONG. The outlook is stable. The rating action follows yesterday's announcement of an agreement between DONG and Vattenfall AB (A-/Stable/A-2), by which Vattenfall acquires power and heat-generating assets in Elsam A/S and Energi E2 A/S in return for its 35% ownership stake in Elsam. The downgrade reflects Standard & Poor's view that DONG's short- to medium-term credit protection...

Companies mentioned in this report are:
- DONG Energy A/S
- Vattenfall AB
- DONG Energy Power A/S
- ENERGI E2 A/S

Action: Downgraded
Action: Outlook: Positive

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- DONG Energy A/S
- Vattenfall AB
- DONG Energy Power A/S
- ENERGI E2 A/S

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown