S&P: British Energy Group unchanged

Standard & Poor's said its ratings and outlook on British Energy Group plc (BE, BB+/stable) are unaffected by the U.K. government's announcement that it intends to sell part of its stake in the company.

The BB rating on BE's senior unsecured debt is also unaffected, the agency said.

BE has confirmed that the sale of the government stake would not affect the treatment of nuclear liabilities and S&P said it believes that the sale should have no material effect on cash flow.

The U.K. government guarantees BE's nuclear decommissioning liabilities and receives 65% of the company's excess cash flow through a cash sweep mechanism to the Nuclear Liability Fund, S&P noted.

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