Moody's may cut CLP Holdings

Moody's Investors Service said it placed the Aa2 local currency and A1 foreign currency issuer ratings of CLP Holdings Ltd. on review for possible downgrade.

At the same time, Moody's placed the Aa1 local currency rating of CLP Power Hong Kong Ltd. on review for possible downgrade and affirmed its A1 foreign currency rating with a stable outlook.

Moody's has also affirmed the P-1 short term rating for both companies. Such rating actions follow CLP Holdings' announcement that it is in advanced discussions with SPI Australia Group, a subsidiary of Singapore Power Ltd., to acquire its Australian merchant energy business.

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