Moody’s gives CTG International A1

Moody's Investors Service said it gave an A1 issuer rating to China Three Gorges International Ltd. (CTGI). The outlook is stable.

"CTGI's A1 rating reflects the company's solid credit profile given it operates mostly clean energy projects under long-term power purchase agreements, with strong support from its parent China Three Gorges Corp. and ultimately the government of China," said Ada Li, a Moody's vice president and senior credit officer, in a press release.

"However, CTGI's stand-alone credit profile is constrained by its significant exposure to non-investment grade jurisdictions and history of rapid expansion, which are risks that cannot be fully offset by its fairly prudent financial management," Li added.

The stable outlook considers that CTGI will sustain its credit profile, its projects will remain stable and, if necessary, the company’s parent will support CTGI, the agency said.

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