Moody's may cut Hutchison

Moody's Investors Service said it put the A3 issuer rating of Hutchison Whampoa Ltd. on review for possible downgrade, along with the A3 ratings on all guaranteed debt issued by its financing subsidiaries.

The review is in response to the company's interim results and news that subsidiary Cheung Kong Infrastructure Holdings Ltd.'s consortium may acquire a new network from EDF Energy plc for about £5.8 billion, Moody's said.

The review also was prompted by company's slower-than-expected trend in deleveraging, such that its key credit metrics remain weak for its rating, the agency said.

Moody's also has expressed concern about its modest credit metrics and uncertainty about the timing and magnitude of its deleveraging.

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