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Alinta Network Holdings ?BBB? Rating Remains On CreditWatch Negative Apr 08
Standard & Poors, April 2008
Abstract
MELBOURNE (Standard & Poor's) April 3, 2008--Standard & Poor's Ratings Services today said that its 'BBB' long-term corporate credit rating on Alinta Network Holdings Pty Ltd. (ANH) remains on CreditWatch with negative implications due to: --ANH's weak credit-protection metrics for the current rating and a lack of clearly articulated financial plans and policies; and --Exposure to Babcock and Brown Infrastructure (BBI; unrated) and ANH's immediate parent, the WestNet Infrastructure Group (WestNet; not rated). 'Any shareholder pressure on ANH's cash flow distributions could negatively affect ANH's already-weak credit metrics,' Standard & Poor's credit analyst Parvathy Iyer said. 'Somewhat mitigating this is the presence of a strong active minority shareholder, DUET Group (BBB-/Stable/--), and the shareholder agreement in place. Furthermore, given ANH...
Companies mentioned in this report are: WA Network Holdings Pty Ltd.,ATCO Gas Australia,DUET Group
Action: CreditWatch Update
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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