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:
- AusNet Services Holdings Pty Ltd.
- AusNet Electricity Services Pty Ltd.
- Singapore Power Ltd.
- AusNet Services
Action: New Rating
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Research type: News
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