S&P: Kunlun Energy on watch

Standard & Poor’s said it placed its A+ long-term corporate credit rating and cnAAA long-term Greater China regional scale rating on Kunlun Energy Co. Ltd. on CreditWatch with negative implications.

S&P also placed the A+ long-term issue rating and cnAAA Greater China regional scale rating on Kunlun Energy’s outstanding senior unsecured notes on CreditWatch with negative implications.

“We placed the ratings on CreditWatch because we expect Kunlun Energy’s financial strength to weaken following the company’s proposed acquisition of PetroChina Kunlun Gas Co. Ltd. and its subsidiaries,” said S&P credit analyst Jian Cheng, in a news release.

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