S&P Global Ratings maintained China Longyuan Power Group's (HKG:0916, SHE:001289) A- long-term issuer credit rating as the China-based pure renewable energy operator's role for its parent strengthens, according to a Tuesday release.
Fitch said parent China Energy Investment's asset injection scheme confirms its view that the subsidiary has a specified role for the group's renewable energy development.
Longyuan Power Group is one of the biggest wind farm operators globally, which is highly strategic for the parent's energy transition, S&P said.
The outlook is stable, showing the parent's stable credit quality and the view that the company will keep its crucial role within the group in the next two years.
Substantial changes in the parent's credit profile or the subsidiary's importance to the parent could lead to future rating actions, S&P said.
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