DONG Energy's financial performance continues to improve, thanks to ongoing revenue and EBITDA growth in its subsidized offshore wind projects and the solid performance of the Distribution and Customer Solutions division following renegotiation of gas contracts. Given DONG Energy's financial policy, we expect it will use the proceeds from its planned sale of the oil and gas operations for its core wind power business or, eventually, returns to shareholders. We are affirming our 'BBB+/A-2' ratings on the company. The stable outlook reflects our assumption that the operating performance of DONG Energy's wind power segment will remain supportive over the next two years and there will be no significant changes to the company's current strategy or financial policies. On April 26,
