Bloomberg News

China Tax Change Negative for Oil, Gas Producers, Moody’s Says

September 26, 2011

Sept. 26 (Bloomberg) -- China’s decision to levy a tax on resources based on their value and volume is negative for the debt rating of major Chinese oil and gas producers, Moody’s Investors Service said it its Weekly Credit Outlook.

“It will increase these companies’ tax bill,” Moody’s said.

To contact the reporter on this story: Wes Goodman in Singapore at wgoodman@bloomberg.net

To contact the editor responsible for this story: Garfield Reynolds at greynolds1@bloomberg.net


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