Moody’s changes China General Nuclear view

Moody's Investors Service said it changed to positive from stable the outlook on the issuer rating of China General Nuclear Power Corp.

At the same time, the agency changed the outlook to positive from stable on the ratings of the A3 senior unsecured rating of CGNPC International Ltd., the A3 senior unsecured rating of China Uranium Development Co. Ltd. and the Baa1 senior unsecured rating of China Clean Energy Development Ltd.

Moody's also affirmed all the ratings.

"The change in outlook to positive from stable reflects CGN's progress in delivering new nuclear power generation units, thereby reducing the degree of execution challenges, and strengthening the company's position within the rating," Ada Li, Moody's vice president and senior analyst, said in a news release.

"The change in outlook also considers our expectation for moderation in the growth of CGN's capital expenditure and which provides support for its credit profile.

"That said, we expect the company to continue pursuing policy-driven growth in domestic clean energy and overseas investments."

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