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Bulletin: DUET Group's Results Meet Expectations; Challenges Remain At Underlying Assets Aug 08
Standard & Poors, Aug 2008
Abstract
MELBOURNE (Standard & Poor's) Aug. 29, 2008--Standard & Poor's Ratings Services today said that DUET Group's (BBB-/Stable/--) reported results for fiscal 2008 were largely in line with our expectations for the rating. The results demonstrate the benefits DUET receives through its reasonably diverse underlying operating assets. The group's key challenge will be maintaining the creditworthiness of its underlying assets, given that the rating outlooks on four of its five companies are currently on negative. The negative outlooks largely relate to weakness or potential weakening in financial metrics at the asset operating companies if appropriate capital management for current and potential growth projects is not applied over the near term. Among its assets, United Energy Distribution Pty Ltd. (UED; BBB/Negative/--) and...
Companies mentioned in this report are: DUET Group,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.
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