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Moody’s assigns AusNet notes Baa2
Moody’s Investors Service said it assigned a Baa2 rating to AusNet Services Holdings Pty Ltd.’s proposed subordinated notes due 2081.
“The Baa2 rating on AusNet Services Holdings’ subordinated notes is two notches below AusNet Services’ A3 issuer rating, reflecting the subordinated nature and likely lower recovery rates in the unlikely event of default compared with the senior unsecured debt,” Moody’s said in a press release.
AusNet will use the proceeds to help fund its capital expenditures program.
The outlook is stable.
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