S&P keeps CLP on watch

Standard & Poor's said ratings on CLP Holdings Ltd. and CLP Power Hong Kong Ltd. will remain on CreditWatch with negative implications pending upcoming discussions with management.

The agency placed the A+ long-term and A-1 short-term corporate credit ratings on CLP Power and the A long-term and A-1 short-term corporate credit ratings on CLP Holdings on CreditWatch with negative implications on Jan. 9.

The original placements followed CLP Power's announcement on Jan. 7 that it concluded an agreement with the Hong Kong government on the terms of the revised Scheme of Control, which takes effect on Oct. 1.

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