|
|
 |
|
Viewing report
|
|
|
|
Bulletin: DUET's Equity Raising Helps Underpin Group Creditworthiness Mar 09
Standard & Poors, March 2009
Abstract
MELBOURNE (Standard & Poor's) March 31, 2009--Standard & Poor's Ratings Services today said that the successful execution of DUET Group's (BBB-/Stable/--) equity raising will be supportive to the creditworthiness of DUET and its underlying investments. We consider that the proposed equity raising demonstrates DUET's commitment to maintaining a stable investment-grade credit profile and helps to mitigate potential capital-expenditure-driven liquidity constraints that may have otherwise evolved over the next 12-to-24 months. The funds will help ensure DUET has the necessary liquidity to manage its upcoming capital commitments, particularly at United Energy Distribution Pty Ltd. (BBB/Stable/--), DBNGP Trust (BBB-/Stable/--), and Duquesne Light Holdings Inc. (BBB-/Negative/--). About A$217 million of the A$264 million to be raised is underwritten by Macquarie Capital Advisers Ltd.,...
Companies mentioned in this report are: DUET Group,Duquesne Light Holdings Inc.,United Energy Distribution Pty Ltd.,DBNGP Trust
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.
|
|
|
|
