On Jan. 11, 2006, Standard&Poor's Ratings Services said that its 'A+' long-term and 'A-1' short-term corporate credit ratings on Spain-based utility Gas Natural SDG, S.A. remain on CreditWatch with negative implications, where they were placed on Sept. 6, 2005, following the company's €22.55 billion bid for a 100% stake in Spanish utility Endesa S.A. (A/Watch Neg/A-1). The Spanish competition authority (Tribunal de Defensa de Competencia) announced on Jan. 4, 2006, that it had rejected the bid on grounds of competition. Its decision follows the Spanish energy regulatory body's (Comision Nacional De Energia) approval of the transaction in December 2005, subject to certain conditions. The Spanish government now has one month to make a final decision on the bid,
