S&P: Hidroelectrica, Transelectrica unchanged

Standard & Poor's said its ratings on S.C. Hidroelectrica SA (BB/positive) and C.N. Transelectrica SA (BB+/positive) are unaffected by the Romanian prime minister's proposal for a merger of government-owned power utilities.

The proposed merger is at a preliminary stage, the agency said, adding that many transaction details, including a list of the companies that could be affected, are yet to be finalized and we cannot rule out the possibility that the merger will be cancelled.

There is no evidence that Transelectrica is considered as a candidate for the merger, the agency said, adding that the potential rating impact on Hidroelectrica would depend on the ultimate credit profile of the merged companies.

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