Moody's rates ENN Natural Gas notes Ba1

Moody's Investors Service said it assigned a Ba1 senior unsecured rating to the proposed guaranteed senior notes to be issued by ENN Clean Energy International Investment Ltd. The notes will be guaranteed by ENN Natural Gas Co., Ltd.

"The Ba1 senior unsecured rating on the guaranteed notes reflects the irrevocable and unconditional guarantee from ENN Natural Gas," said Boris Kan, a Moody's vice president and senior credit officer, in a press release.

"Although the company's cash flows are concentrated from a limited number of subsidiaries, we do not yet consider structural subordination risk to be significant given that the amount of indebtedness at the holding company level remains manageable," added Kan.

The proceeds will be used for repaying debt.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.