Moody’s changes Inpex view to negative

Moody's Japan K.K. said it affirmed the A1 issuer rating of Inpex Corp. and changed the outlook to negative from stable.

"The change of outlook to negative primarily reflects the uncertainties generated by the delay in the start-up of production and cost overruns at the company's Ichthys LNG Project in Australia," Kailash Chhaya, Moody's vice president and lead analyst for Inpex, said in a news release.

"In addition, Moody's considers that the headroom within the company's current rating has been reduced by weak earnings in the current low oil price environment and the increasing level of liabilities related to Ichthys."

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