Moody’s changes Australia Pacific LNG view to negative

Moody’s Investors Service said it revised the outlook on Australia Pacific LNG Processing Pty Ltd.’s senior secured ratings to negative from stable.

At the same time, Moody’s affirmed Australia Pacific LNG Processing’s senior secured Baa2 ratings.

“The negative outlook reflects our expectation that sharply lower oil prices following the coronavirus outbreak are likely to weaken APLNG Processing’s credit metrics and financial flexibility, and potentially for an extended period,” said Nicholas Chapman, a Moody’s vice president and senior analyst, in a press release.

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