Multi-utility GDF SUEZ is offering to merge its Energy International assets with those of U.K.-based power developer International Power PLC (IPR). GDF SUEZ would receive a majority stake in the new IPR in return for the contributed assets. The parties expect the transaction to close mid-January 2011. The 'A/A-1' corporate credit ratings on GDF SUEZ remain on CreditWatch with negative implications. The CreditWatch listing reflects our view that this transaction, if completed, could weaken GDF SUEZ's business risk profile to a level no longer commensurate with an 'A' long-term rating, particularly in the absence of support from a strengthening financial profile. PARIS (Standard&Poor's) Nov. 30, 2010--Standard&Poor's Ratings Services said today that its ratings, including the 'A/A-1'
