The focus must be on market conditions rather than the rhetorical crossfire among affected companies.

But the trend also means that external events that may have no bearing on the affected companies will continue to rock equities.

Thus, these industry experts say, the downgrading will likely present a serious public-relations challenge for the affected companies.

Fonterra, New Zealand's largest dairy company, had a 43% stake in one of the affected companies.

Workers of some of the affected companies are rearing opposition to the privatization.

Several high-profile expropriations made in the energy sector have been resolved through a process of negotiations between the government and the affected companies.

The affected companies include some of the largest and most powerful companies in the industry.

"For many of the affected companies, the needs are critical," Mr. Schenkel said.

Analysts from PricewaterhouseCoopers believe the scheme is likely to add 6pc to affected companies' energy prices next year.

Anticipation of these changes can lead to changes in the stock prices of the affected companies.