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Bulletin: Ratings On Origin Energy Ltd. Not Immediately Affected By APLNG Agreements Dec 11
Standard & Poors, Dec 2011
Abstract
MELBOURNE (Standard & Poor's) Dec. 12, 2011--Standard & Poor's Ratings Services said today that its BBB+/Stable/A-2 ratings on Origin Energy Ltd (Origin) were not immediately affected by the announcement of a non-binding heads of agreement by Australia Pacific LNG (APLNG), in which Origin currently holds a 42.5% interest. The announcement reports that APLNG may sell an additional 3.3 million tons per annum of liquefied natural gas (LNG) to China Petroleum & Chemical Corp. (Sinopec; A+/Stable; cnAAA) until 2035. In addition, if this agreement were to be implemented, Sinopec will increase its project equity to 25% from 15%, while Origin and ConocoPhillips will reduce their stakes to 37.5% each, from 42.5%. This agreement is clearly an important step for APLNG to...
Companies mentioned in this report are: Origin Energy Ltd.
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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