Swedish State-Owned Multi-Utility Vattenfall 'A-' Rating Placed On CreditWatch Negative On Adverse Business Prospects

Swedish state-owned multi-utility Vattenfall AB's operating profits continued to be negatively affected by adverse market conditions in the second quarter of 2015, and the company announced further large asset impairments. With a continued bleak outlook for Vattenfall's power generation operations, we see downside risk to the company's business risk profile, which may not be offset by a strengthened financial risk profile. We are placing our 'A-' long-term rating on Vattenfall on CreditWatch with negative implications. We aim to resolve the CreditWatch within the next three months, following a review of the company's business and financial risk profiles. STOCKHOLM (Standard&Poor's) July 24, 2015--Standard&Poor's Ratings Services today placed its 'A-' long-term issuer credit rating on Sweden-based state-owned multi-utility

...+ Swedish state-owned multi-utility Vattenfall AB's operating profits continued to be negatively affected by adverse market conditions in the second quarter of 2015, and the company announced further large asset impairments. + With a continued bleak outlook for Vattenfall's power generation operations, we see downside risk to the company's business risk profile, which may not be offset by a strengthened financial risk profile. + We are placing our 'A-' long-term rating on Vattenfall on CreditWatch with negative implications. + We aim to resolve the CreditWatch within the next three months, following a review of the company's business and financial risk profiles. STOCKHOLM (Standard & Poor's) July 24, 2015--Standard & Poor's Ratings Services today placed its 'A-' long-term issuer credit rating on Sweden-based state-owned multi-utility Vattenfall AB on CreditWatch with negative implications. At the same time, we affirmed our 'A-2' short-term issuer credit ratings and 'K-1' short-term regional...

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