Gas Natural off Rating Watch Negative after withdraws Endesa bid - Fitch |
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Published
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Fri, 02 Feb 2007 15:29
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MADRID (AFX) - Fitch Ratings said it has removed Gas Natural SDG SA's 'A+' Issuer Default Rating (IDR) and 'F1' short term rating from Rating Watch Negative (RWN) after the utility withdrew its bid for Endesa SA.In a statement the agency said the RWNs were initially put in place in September 2005 after Gas Natural first launched its takeover bid for Endesa.Fitch added it has assigned a 'Negative Outlook' to Gas Natural's IDR on continued uncertainty regarding the group's ambitions to develop a balanced gas and electricity business.Gas Natural withdrew its bid for Endesa yesterday leaving Germany's E.ON AG as the only remaining suitor, citing unfair conditions in the bidding process.afxmadrid@afxnews.comcve/jfrCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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