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BULLETIN: Alinta Ltd.'s and Alcoa of Australia's Ratings Unaffected by Pipeline Bid Aug 04
Standard & Poors, Aug 2004
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
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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