[ET Net News Agency, 13 September 2019] ENN Ecological has announced a draft proposal
for the purchase of 32.8% ENN Energy Holdings Ltd. (02688) shares from its chairman, Mr.
Wang. The completion of the reorganization is contingent on approvals from the board and
shareholder, as well as from relevant governments and regulatory authorities.
S&P Global Ratings believes the proposed reorganization will have a negative impact on
the credit rating on ENN Energy because of a weaker group credit profile.
The credit rating agency thus placed on CreditWatch with negative implications its
'BBB+' long-term issuer credit rating on ENN Energy and the 'BBB+' long-term issue credit
rating on the notes the company issued.
S&P aims to resolve the CreditWatch once we have received and analyzed adequate
information on ENN Ecological and potentially other shareholders of ENN Ecological. It
will then assess the group credit profile and its impact on ENN Energy's creditworthiness.
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02688 ENN ENERGY
Nominal 
65.550 +1.450 (+2.262%) Others
13/09/2019 14:37
ENN Energy (02688) ratings placed on CreditWatch negative
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