Fitch may up British Energy

Fitch Ratings said it placed British Energy Group plc and British Energy Bond Finance plc's (formerly British Energy Holdings plc) BB+ long-term issuer default ratings on Rating Watch positive.

The action follows the proposed takeover by EDF SA (AA-/F1+/Rating Watch negative).

The agency said it believes the acquisition is favorable to the issuer due to EDF's position as a leading European nuclear expert. It will also offer BEG additional engineering expertise and the potential to achieve a more stable profile by becoming part of the wider EDF UK Electricity group.

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