Moody's: Origin unchanged

Moody's Investors Service said Origin Energy Ltd.'s announcement regarding APLNG securing $8.5 billion of project financing to help fund its LNG project in Queensland is a positive development for the company's credit profile.

There is no change to the ratings at this time.

Origin has an issuer and senior unsecured rating of is rated Baa1 with negative outlook.

"The announced project financing enhances the long term funding certainty for APLNG throughout its 5 year construction phase," says Spencer NG, a Moody's analyst, in a news release.

The agency said the negative rating outlook reflects the expected weakening in Origin's financial profile - in spite of an expectation for continued growth in earnings - as the construction of APLNG commences and the associated debt gradually correspondingly.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.