22 April 2015
Credit rating update
Origin Energy Limited (Origin) notes that Standard & Poor’s today revised its long term senior unsecured credit rating for Origin from BBB (negative outlook) to BBB- (stable).
Origin’s current committed undrawn debt facilities, which have no material maturities until December 2018 and December 2019, together with operating cash flow, provide the Company sufficient liquidity to meet its Australia Pacific LNG funding commitment and the requirements of Origin’s existing business.
Origin Executive Director Finance & Strategy, Ms Karen Moses said, “The revision of Origin’s credit rating to BBB- (stable) is not expected to have a material impact on the Company. Origin has, and will continue to, conserve cash flow, accelerate cost reductions and ensure capital expenditure is carefully focused on projects that will enhance cash flow and earnings in the near term.”
Origin advises it has no intention to raise equity to fund its investment in Australia Pacific LNG.
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Price review outcome and update on FY2021 guidance
Origin Energy Limited (Origin) has provided the following update on earnings guidance for the year ended 30 June 2021 (FY2021), following an adverse outcome on a domestic gas contract price review, combined with a further deterioration in Energy Markets’ operating conditions.