Fitch rates Transurban loan A-

Fitch Ratings said it assigned a long-term rating of A- to Transurban Finance Co. Pty Ltd.'s new A$50 million unenhanced senior secured bank letter of credit facility due December 2013.

The outlook is stable.

The agency also said it affirmed the A- ratings on A$220 million of unenhanced senior secured bank working capital facilities that were originally due in February 2011, but that have now been extended and are due in December 2013.

Fitch also said it affirmed the unenhanced A- ratings of all other senior secured bank and capital market facilities.

The company had a total of A$320 million of bank working capital facilities scheduled to mature in February 2011. Ahead of expiry, two banks extended the maturity date of their respective facilities, each for A$110 million, to December 2013.

The company also retired A$85 million of unenhanced senior secured bank working capital facilities provided by a third bank. These movements resulted in a total reduction of A$50 million in bank working capital facilities.

The agency said it considers these changes to be ratings neutral for Transurban.

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