STOCKHOLM (Standard&Poor's) Sept. 7, 2004--Standard&Poor's Ratings Services said today it assigned its 'A-' long-term and 'A-2' short-term corporate credit ratings to Denmark-based gas and energy company DONG A/S. The outlook is stable. "The ratings on DONG are supported by its dominant incumbent market position, access to competitive long-term gas purchase contracts, significant monopoly operations, and a strong financial profile," said Standard&Poor's credit analyst Andreas Zsiga. Negative ratings factors include competitive exposure in the gas supply business, gas purchase concentration with volumes declining rapidly from 2012, significant exposure to the volatile oil and gas exploration and production (E&P) business, and aggressive medium-term growth objectives that are set to weaken both the business and, in particular,
