Moody's: China's State Power Investment's ratings unaffected by asset sale to Shanghai Electric Power
Hong Kong, November 30, 2016-- Moody's Investors Service says that the A2 ratings of State Power Investment Corporation are unaffected by its decision to inject an asset into its 60%- owned listed subsidiary, Shanghai Electric Power Company Limited. On 24 November 2016, SEP announced that it will acquire 100% of SPIC's Jiangsu subsidiary through the issuance of RMB2.7 billion in new shares and payment of RMB312 million in cash. At the same time, SEP will issue new shares to a maximum...
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