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Bulletin: Rating On DUET Unaffected By Proposed Divestment Of Its Interest In Duquesne Jun 10
Standard & Poors, June 2010
Abstract
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
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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