S&P affirms State Power Investment

S&P said it affirmed its A- long-term issuer credit rating on State Power Investment Corp.

The outlook is stable.

The agency said it affirmed the rating because it expects the company’s credit metrics will modestly recover in the next two years.

This is based on an expectation of stable, albeit high, fuel costs under government efforts to counter rising coal prices, stable financing expenses under easing monetary policy in China, as well as a strong commitment by management to deleverage, S&P said.

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