Fitch eyes Net4Gas positively

Fitch Ratings said it placed Net4Gas, SRO's long-term issuer default rating and senior unsecured ratings of BB- on rating watch positive.

The rating was previously on evolving outlook.

“The RWP follows CEPS, AS’ signing of an agreement to acquire full ownership of Net4Gas at limited equity value, while fully assuming Net4Gas's net financial obligations,” the agency said in a news release.

“The RWP reflects our expectation that the acquisition by a considerably stronger group will benefit Net4Gas’ ratings due to parent subsidiary linkages, with an upgrade of at least one notch.”

Fitch said it will resolve the positive watch once the transaction has been completed, which could take more than six months.

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