16 April 2019
Standard & Poor’s credit rating upgrade for Origin
Origin Energy Limited (Origin) notes the decision by Standard & Poor’s Global Ratings (S&P) today to upgrade its long-term senior unsecured credit rating for Origin Energy Limited to BBB (stable) from BBB- (positive).
At the same time, S&P upgraded the senior unsecured credit rating for Origin Energy Finance Limited to BBB (stable) from BBB- (positive).
Origin’s Chief Financial Officer Lawrie Tremaine said, “Origin welcomes the decision by S&P to upgrade the company’s credit rating.
“S&P’s upgraded credit rating, along with the announced upgrade by Moody’s yesterday, reflects Origin’s efforts in recent years to materially reduce debt and improve business performance.
“Origin continues to focus on reducing debt and improving shareholder returns. With the company approaching its target capital structure, we recently reinstated dividends, with a fully franked 10 cent per share interim dividend announced at HY2019.”
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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.