London, 30 September 2016 -- Moody's Investors Service (Moody's) has today assigned an A3 long term issuer rating to National Grid Gas Distribution Ltd (NGGD), a new entity which will hold the gas distribution licences for four of eight regions of Great Britain. The rating is under review for downgrade, reflecting uncertainty about the company's future financial policy and funding arrangements. National Grid Plc (Baa1 stable) proposes to sell a majority stake in NGGD in early 2017.
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