Bulletin: Rating On DUET Unaffected By Proposed Divestment Of Its Interest In Duquesne Jun 10
- ID: 1856665
- June 2010
- Standard & Poors
MELBOURNE (Standard & Poor's) June 8, 2010--Standard & Poor's Ratings Services today said that its 'BBB-' corporate credit rating on DUET is unaffected by the company's proposed divestment of its 29% holding in Duquesne Holding (DQE, BBB-/Stable), the U.S based regulated utility business. The divestment will reduce the asset and geographical diversity for DUET and increase concentration of Australian-based energy assets in its portfolio; however, the spread of Australian assets across the regulated electricity, gas, and pipeline sector should continue to mitigate the concentration risk. Further, the divestment of DQE should equip DUET with the financial flexibility to deal with the organic growth opportunities and capital-management initiatives within Australian assets. -The divestment of DQE is expected by the end of...
Companies mentioned in this report are: DUET Group
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