Moody’s lifts China General Nuclear

Moody's Investors Service said it upgraded China General Nuclear Power Corp.'s issuer rating to A2 from A3.

At the same time, Moody's upgraded CGNPC International Ltd.'s senior unsecured rating to A2 from A3, and China Clean Energy Development Ltd.'s senior unsecured rating to A3 from Baa1.

At the same time, Moody's changed the outlook to stable from positive.

“The upgrade considers CGN's progress in delivering new nuclear power generation units, thereby reducing the degree of execution challenges, which in turn has strengthened the company's standalone credit profile,” Ada Li, Moody's vice president and senior credit officer, said in a news release.

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