|
|
 |
|
Viewing report
|
|
|
|
Alinta Network Holdings Pty Ltd. May 08
Standard & Poors, May 2008
Abstract
Natural monopoly of its Western Australian gas-distribution network Reliable cash inflows, driven by a supportive and transparent regulatory regime Low operational risk Aggressive financial profile Exposure to the risk tolerance of its shareholders Throughput volumetric risk The ratings on Australian utility Alinta Networks Holdings Pty Ltd. (ANH) reflect the reliable and regulated earnings the group derives from its natural monopoly Western Australian gas-distribution network and the low operational risk inherent in its business. These strengths, however, are somewhat offset by ANH's aggressive financial profile, the group's exposure to the risk tolerance of its shareholders, and throughput volumetric risk. ANH has two major shareholders: Babcock & Brown Infrastructure (74.1%, BBI; not rated) and DUET Group (25.9%, BBB-/Stable/--). ANH's gas-distribution pipelines benefit...
Companies mentioned in this report are: WA Network Holdings Pty Ltd.,ATCO Gas Australia,DUET Group
Action: Review
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: Full Analysis
|
|
|
|
