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Fitch lowers Origin Energy view to negative
Fitch Ratings said it affirmed Origin Energy Ltd.'s long-term foreign-currency issuer default rating and foreign-currency senior unsecured rating at BBB.
The outlook was revised to negative from stable.
The agency also said it affirmed Origin Energy Finance Ltd.'s foreign-currency senior unsecured rating at BBB.
The outlook revision considers the impact of sustained low oil prices and weakness in the liquefied natural gas (LNG) markets, which have slowed the pace of improvement in the company's financial profile, Fitch said.
The outlook revision also reflects the risks to Origin's credit profile should oil prices underperform against base-case assumptions, the agency said, and reduce dividends receipts from Australia Pacific LNG.
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