DUESSELDORF, Germany: Labor representatives at Uniper , fearing a ratings downgrade in the event of a full takeover of the German energy group, have called on major shareholder Fortum to lay out plans for future cooperation between the two companies.
On Tuesday, ratings agency S&P said that Fortum acquiring more of Uniper could be negative for the ratings of both groups. Currently, S&P has a 'BBB' rating on both Uniper and Fortum, two notches above junk. "We have made a constructive proposal for a cooperation on the basis of the status quo. Lundmark has simply ignored it," Grzella said.
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