Alinta Network's 'Baa2' rating outlook cut to negative - Moody's...

Alinta Network's 'Baa2' rating outlook cut to negative - Moody's (Babcock &Amp; Brown Limi)

BANGALORE (Thomson Financial) - Moody's Investors Service said it has cut the 'Baa2' senior unsecured rating outlook on Alinta Network Holdings Pty Ltd. (ANH) to negative from stable, following the incident at the Apache Energy-operated Varanus Island gas facility which has resulted in a material
reduction in gas supply to the Western Australian market.

This introduces uncertainty to ANH's revenue given the expected reduction in gas flow through its network, Moody's said. The impact on ANH's financial profile is unknown at present given the uncertainty relating to the timing of restoring gas supply from the Varanus Island, it added.

Moody's said it also concerned about ANH's challenging liquidity profile due to meaningful debt maturity and the absence of long-dated committed standby facilities.

The company is 74 percent owned by Babcock & Brown Infrastructure (BBI) and the rest by Diversified Utility and Energy Trusts (DUET). [email protected]

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