Moody's gives Baa3 rating to Ventia

Moody's Investors Service said it assigned a Baa3 issuer rating to Ventia Services Group Ltd. and withdrew the Ba2 corporate family rating assigned to Ventia Services Pty Ltd. and Ba2 senior secured bank credit facility rating assigned to Ventia Finco Pty Ltd.

The action concludes the review for upgrade on Ventia Services Pty and Ventia Finco Pty started on Nov. 1, Moody’s said.

“The rating action reflects Ventia's already strong business profile, the improvement in the financial profile following the initial public offering (IPO) and subsequent debt repayment, and the improvement in Moody's governance considerations of the company,” the agency said in a press release.

Moody’s noted Ventia’s long-dated contracts and strong counterparties provide stable cash flows.

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