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S&P lifts Alinta Energy
S&P said it raised the corporate credit rating and issue ratings on Alinta Energy Finance Pty Ltd. to BB from BB-.
The recovery rating on the senior secured debt issues remains at 3.
The outlook is stable.
The upgrade reflects a view that Alinta Energy's business risk profile has improved following the exit and separation of the old, coal-fired Flinders Power station and Leigh Creek coal mines from Alinta Energy's asset portfolio as of June 30, S&P said.
Despite providing some electricity market hedges, Flinders weighed on Alinta Energy's cash flows over the past few years, the agency explained.
The exit from this business significantly reduced the company's operational and investment demands, S&P said.
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