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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

  • Published: 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. READ MORE >

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

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