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- 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
