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SPI Electricity & Gas Australia's Proposed Issue Of About US$250 Million Notes Rated 'A' Sep 06 Product Image

SPI Electricity & Gas Australia's Proposed Issue Of About US$250 Million Notes Rated 'A' Sep 06

  • ID: 1822929
  • September 2006
  • Region: Australia
  • Standard & Poors

Abstract
MELBOURNE (Standard & Poor's) Sept. 5, 2006--Standard & Poor's Ratings Services today said it had assigned its 'A' long-term debt rating to SPI Electricity & Gas Australia Holdings Pty. Ltd.'s (SPI E&G Australia; A/Stable/A-1) proposed issue of about US$250 million fixed-rate notes. The notes will be issued out of the company's existing US$1.5 billion medium-term-note program. Guaranteed by operating subsidiaries SPI Networks (Gas) Pty Ltd., SPI Electricity Pty. Ltd. (A/Stable/--), and SPI Networks Pty. Ltd., the notes are senior unsecured debt, ranking pari passu with existing senior debt. The proceeds of the notes will primarily be used to refinance a similar amount of existing debt that matures in December 2006. The rating on the notes is subject to receipt and...

Companies mentioned in this report are: SPI Electricity & Gas Australia Holdings Pty Ltd.,SPI Electricity Pty Ltd.,Singapore Power Ltd.,SP AusNet Group
Action: New Rating

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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SPI Electricity & Gas Australia Holdings Pty Ltd.,SPI Electricity Pty Ltd.,Singapore Power Ltd.,SP AusNet Group

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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