Moody’s: Kunlun Energy to negative

Moody's Investors Service said it affirmed Kunlun Energy Co. Ltd.’s A1 issuer rating and senior unsecured debt rating and changed the outlook to negative from stable.

"The change in outlook to negative reflects the weakening of Kunlun Energy's credit metrics relative to our rating tolerance levels," Moody's assistant vice president and analyst Ivy Poon said in a news release.

"The weakening of the company's financial profile reflects the further weakening in oil-price environment and slower growth in natural gas consumption in China. Consequently, we expect the company's revenue and EBITDA growth in the near-term to deteriorate beyond our earlier expectations."

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