S&P: Origin Energy to positive

S&P said it revised the outlook on Origin Energy Ltd. to positive from stable and affirmed the BBB- long-term and A-3 short-term corporate credit ratings.

The agency also affirmed the BBB- rating on the senior unsecured debt and BB rating on the subordinated debt issued by Origin Energy Finance Ltd.

“We revised the outlook to positive to reflect our expectations that Origin's financial metrics would sustain at stronger levels over the next 12 to 24 months, commensurate with a higher rating,” S&P said in a news release.

“The metrics improvement will depend on the company's financial policies, including the timing and level of distributions, the company's willingness to reduce debt further and its commitment to maintaining hybrids in its capital structure.”

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