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Bulletin: WA Network Holdings Ratings Unaffected By Potential Sale May 11
Standard & Poors, May 2011
Abstract
MELBOURNE (Standard & Poor's) May 23, 2011--Standard & Poor's Ratings Services today said that its ratings on WA Network Holdings Pty Ltd. (WAN; BBB-/Negative/--) are not immediately affected by a potential sale of the group. ATCO Ltd. (A/Stable/--) and AET&D Holdings No 1 Ltd. (not rated) recently announced they have entered into exclusive negotiations for the purchase of certain assets of WAN's majority-owner WestNet Infrastructure Group. In our view, the announcement may remove the uncertainty around the shareholding of WAN and WAN's 100%-owned operating subsidiary WA Gas Networks Pty Ltd. (WAGN; not rated). If a shareholder change proceeds, the ownership behavior and risk appetite of the new owner will be key credit factors for the ratings on WAN. Meantime, we...
Companies mentioned in this report are: WA Network Holdings Pty Ltd.,WA Gas Networks Pty Ltd.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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