Fitch affirms Origin Energy

Fitch Ratings said it affirmed Origin Energy Ltd.'s long- and short-term foreign-currency issuer default rating at BBB+ and F2, respectively. The outlook is stable.

At the same time, the agency said it affirmed Origin's foreign-currency senior unsecured rating at BBB+. The agency also affirmed Origin Energy Contact No. 2 Ltd.'s preference shares at BBB-.

"Origin's financial risk profile will remain under some pressure over the medium term from large debt-funded capex and long lead times to revenue generation, in particular that associated with its share of Australia Pacific LNG," said Sajal Kishore, director with Fitch's Asia-Pacific energy and utilities team, in a news release.

"However, the stable outlook on its long-term issuer default rating reflects Fitch's expectation that Origin can maintain a credit profile appropriate for its current ratings over the medium-term," said Kishore.

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