By bne IntelliNews International rating agency Moody’s has affirmed the Baa1 rating and the baa2 Baseline Credit Assessment (BCA) for the Czech majority-state-owned energy utility CEZ. Moody’s also changed the outlook to negative from stable. Moody’s action comes after CEZ confirmed it had signed an agreement to buy 55.2% of Gasnet, the largest Czech gas distribution company, for €846.5mn from Macquarie Asset Management. The Gasnet acquisition comes amid the efforts of the Czech state to gain a stronger footing in the energy infrastructure and diversification from its dependency on Russian ene…