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S&P: Lietuvos Energija on watch
Standard & Poor's said it placed the A- long-term corporate credit rating on Lietuvos Energija on CreditWatch with negative implications and affirmed the A-2 short-term corporate credit rating.
The watch follows a decision by the Lithuanian state to contribute its shares in the company to newly created holding company AB LEO LT, making LE a 96.5% owned subsidiary of LEO, according to the agency.
S&P said the issuer posted strong results for full-year 2007, and debt leverage remains low at about 7% of total capital as at Dec. 31.
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