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Bulletin: AGL Energy Rating Unaffected By Revised Capitalization Of Power Purchase Agreements May 10
Standard & Poors, May 2010
Abstract
MELBOURNE (Standard & Poor's) May 4, 2010--Standard & Poor's Ratings Services today said that its issuer credit rating and outlook on AGL Energy (AGL; BBB/Stable) and its subsidiaries would not be affected by our revision of the capitalization of AGL's contracted payments under its power purchase agreements (PPA) to 50% from 100% of the net cash flow obligation under the PPAs. The change reflects our view of AGL's moderate ability to pass through its PPA obligations to its customers. For further details of the underlying reasons for the change in treatment, please refer to our report on AGL, released today. (Listen to the related podcast titled, 'Why S&P Revised Its Treatment Of Power Purchase Agreements For Australia's AGL Energy,' dated...
Companies mentioned in this report are: AGL Energy
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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