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BULLETIN: Alinta Ltd.'s and Alcoa of Australia's Ratings Unaffected by Pipeline Bid Aug 04 Product Image

BULLETIN: Alinta Ltd.'s and Alcoa of Australia's Ratings Unaffected by Pipeline Bid Aug 04

  • Published: August 2004
  • Standard & Poors

Abstract
MELBOURNE (Standard & Poor's) Aug. 31, 2004--Standard & Poor's Ratings Services said today that Alinta Ltd.'s (Alinta, BBB/Stable/A-2) and Alcoa of Australia Ltd.'s (AoA, A-/Stable/-) corporate credit ratings are unaffected following a consortium of Diversified Utility and Energy Trusts (DUET), Alinta, and AoA being named as the preferred bidder for the purchase of 100% of the Dampier-Bunbury Natural Gas Pipeline and associated assets. The consortium's bidding price for the pipeline is about A$1.86 billion and proposed ownership structure is as follows: Alinta (20%), Alcoa (20%), and DUET (60%). Alcoa's participation is subject to Foreign Investment Review Board approval. The initial financial commitment from both Alinta and AoA can be funded through existing liquidity reserves, with ongoing capital requirements met by...

Companies mentioned in this report are: Alinta 2000 Ltd.,Alcoa of Australia Ltd.,DUET Group
Action: Bulletin

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Alinta 2000 Ltd.,Alcoa of Australia Ltd.,DUET Group

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