- Published: May 2012
- Region: United States
Bulletin: WA Network Holdings Ratings Unaffected By Potential Sale May 11
- Published: May 2011
- Standard & Poors
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.
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Research type: News
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WA Network Holdings Pty Ltd.,WA Gas Networks Pty Ltd.