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Alinta Network Ratings Lowered To ?BBB-? On Aggressive Financial Profile; Outlook Stable May 08
Standard & Poors, May 2008
Abstract
MELBOURNE (Standard & Poor's) May 22, 2008--Standard & Poor's Ratings Services today said that it had lowered its corporate credit and debt ratings on Alinta Network Holdings Pty Ltd. (ANH) to 'BBB-' from 'BBB'. The ratings were removed from CreditWatch with negative implications; the outlook is stable. The downgrade mainly reflects ANH's aggressive financial profile, which exhibits weak credit-protection metrics, and the company's exposure to the risk tolerance of its major shareholders: Babcock & Brown Infrastructure (BBI; not rated) and DUET Group (BBB-/Stable/--). At the same time, the ratings on AlintaGas Networks Pty Ltd.'s (AGN) bank loans were lowered to 'BBB-' from 'BBB'. AGN is the wholly owned operating arm of ANH. 'ANH's financial profile is aggressive, as reflected in...
Companies mentioned in this report are: WA Network Holdings Pty Ltd.,ATCO Gas Australia,DUET Group
Action: Downgraded
Action: Outlook: Stable
Action: Removed From CreditWatch
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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