Moody’s changes Kunlun Energy to stable

Moody's Investors Service said it changed the outlook on Kunlun Energy Co. Ltd.’s A2 issuer rating and senior unsecured debt rating to stable from negative and affirmed all ratings.

"The change in outlook to stable reflects the stabilization of Kunlun's credit profile, driven by its steadying business profile and manageable credit metrics that we expect will remain at levels appropriate for its current rating level over the next 12-18 months," Moody's vice president and senior credit officer Boris Kan said in a news release.

"We believe that uncertainty over the transmission tariff of the Shaanjing pipeline has now been removed, while the LNG processing and terminal business has turned profitable from a losing position two years ago."

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