Moody’s: Beijing Energy unaffected

Moody's Investors Service said that Beijing Energy Holding Co., Ltd.'s A3 issuer rating is not immediately affected by the indicative strategic restructuring cooperation agreement with Wintime Holding Group Co., Ltd.

The outlook is stable.

Beijing Energy and Wintime Holding entered into the agreement whereby Beijing Energy intends to lower Wintime Holding's financings cost and its restoring normal operations through an equity interest transfer, asset restructuring and asset injections.

In return, Wintime Holding intends to make available to Beijing Energy all its assets for sale at market prices with a view to relinquishing a majority stake to the latter.

Moody's said it believes the current indicative agreement is at a very early stage and is subject to several uncertainties.

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