Sydney, May 30, 2014 -- Moody's has today affirmed the Baa2 rating of Envestra Limited. At the same time, outlook on Envestra's ratings was revised to developing from stable. This follows the company's announcement that its independent board has unanimously recommended a cash offer from Cheung Kong Group (unrated) to acquire all of Envestra's shares. The initial offer was first announced on 7 May 2014.
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