Denmark-based power and gas utility DONG Energy A/S is proposing to issue junior subordinated hybrid securities to bolster its capital structure. We assess the proposed securities as having intermediate equity content. We are assigning an issue rating of 'BB+' to the proposed securities to reflect their subordination, as well as their optionally and mandatorily deferability. STOCKHOLM (Standard&Poor's) Nov. 16, 2010--Standard&Poor's Ratings Services said today that it assigned its 'BB+' long-term issue rating to the proposed, long dated, optionally and mandatorily deferrable, and subordinated capital securities to be issued by DONG Energy A/S (A-/Stable/A-2). The completion and size of the transaction remain subject to market conditions and to the final amount of notes repurchased as part of
