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ORIGIN ENERGY LIMITED — Capital/Financing Update 2016
Apr 4, 2016
65507_rns_2016-04-04_a972dc05-78d2-494a-bd4f-7ff84d23a54c.pdf
Capital/Financing Update
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| To | Company Announcements Office | Facsimile | 1300 135 638 | |
|---|---|---|---|---|
| Company | ASX Limited | Date | 5 April 2016 | |
| From | Helen Hardy | Pages | 2 | |
| Subject | Moody’s reaffirms Origin’s investment grade credit rating |
Please find attached a release on the above subject.
Regards
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Helen Hardy Company Secretary 02 8345 5000
Origin Energy Limited ACN 000 051 696 Level 45 Australia Square, 264-278 George Street, Sydney NSW 2000 GPO Box 5376, Sydney NSW 2001 Telephone (02) 8345 5000 Facsimile (02) 9252 1566 www.originenergy.com.au
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ASX/Media Release
5 April 2016
Moody’s reaffirms Origin’s investment grade credit rating
On 22 January 2016, Moody’s Investor Services (Moody’s) placed Origin Energy Limited’s (Origin) rating on review following a reduction in Moody’s central oil price scenario.
Origin notes that Moody’s has completed its review and reaffirmed its long-term senior unsecured credit rating for Origin at Baa3 (negative).
Moody’s announcement follows Standard & Poor’s Financial Services' decision on 18 March 2016 to reaffirm its long-term senior unsecured credit rating for Origin as BBB- (stable).
Origin continues to take action to strengthen its balance sheet and build resilience in its two existing businesses to a low oil price environment. The company has in excess of $6.6 billion of committed undrawn debt facilities and cash[1] – which is more than sufficient to support remaining contributions to Australia Pacific LNG – and no material refinancing requirements until FY19.
For further information please contact:
Media
Investors
Stephen Ellaway Chau Le Senior External Affairs Manager Group Manager, Investor Relations Ph: +61 2 9375 5834 Ph: + 61 2 9375 5816 Mobile: +61 417 851 287 Mobile: +61 467 799 642
About Origin Energy
Origin Energy (ASX: ORG) is the leading Australian integrated energy company with market leading positions in energy retailing (approximately 4.2 million customers), power generation (approximately 6,000 MW of capacity owned and contracted) and natural gas production (1,093 PJ of 2P reserves and annual production of 82 PJe).
Through Australia Pacific LNG, its incorporated joint venture with ConocoPhillips and Sinopec, Origin is developing Australia’s biggest CSG to LNG project based on the country’s largest 2P CSG reserves base.
1 As at 29 February 2016