- Release Date: 21/02/13 13:59
- Summary: CREDIT: OCF: No intention to raise equity following credit rating update
- Price Sensitive: No
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OCF 21/02/2013 11:59 CREDIT REL: 1159 HRS Origin Energy Contact Finance No.2 Limited CREDIT: OCF: No intention to raise equity following credit rating update Origin Energy Limited (Origin) notes that Standard & Poor's Ratings Services (S&P's) today revised its long term senior unsecured credit rating for Origin from BBB+ (negative outlook) to BBB (stable). S&P's credit rating determination is not dependent on the outcome from the dilution process in Australia Pacific LNG. Origin's current committed undrawn facilities, together with operating cash flow, provide sufficient liquidity to cover its Australia Pacific LNG funding commitment and the requirements of Origin's existing business, without the need for any refinancing until the 2015 financial year. Origin Managing Director Mr Grant King said, "Today's rating outcome positions Origin well to support our existing business and continue to fund our commitment to the Australia Pacific LNG project from our existing debt facilities. "Origin today confirmed that it has no intention to raise equity to fund its investment in Australia Pacific LNG, irrespective of the outcome from the dilution process," Mr King said. For further information please contact: Media Lina Melero General Manager External Affairs Ph: +61 2 8345 5217 Mobile: +61 427 017 798 Investors Kylie Springall Group Manager, Investor Relations Ph: +61 2 8345 5288 Mobile: +61 400 477 393 End CA:00233260 For:OCF Type:CREDIT Time:2013-02-21 11:59:47
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