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BULLETIN: Unocal Corp. Subsidiary Reaches Pricing, Production Agreement in Indonesia Jul 02
Standard & Poors, July 2002
Abstract
Standard & Poor's Ratings Services said today that its ratings and outlook assigned to Unocal Corp. (BBB+/Positive/A-2) are not affected by the agreement announced between Unocal Geothermal of Indonesia (UGI) and Dayabumi Salak Pratama Ltd. (DSPL), a 50% equity investee of UGI, with PT Perusahaan Listrik Negara (PLN), the Indonesia state-owned electricity company, over pricing and production issues. Although DSPL and UGI will receive lower prices for their electricity and steam supplied to PLN, Standard & Poor's believes that this should not have a material adverse effect on the company's financial condition. In fact, the agreement should settle many outstanding issues and end up increasing earnings at UGI as reserves against receivables will be minimized. Standard & Poor's will continue...
Companies mentioned in this report are: Unocal Corp.
Action: S&P Event
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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