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APA GROUP — Capital/Financing Update 2009
Jun 24, 2009
64398_rns_2009-06-24_bbddb3e0-b861-4bcd-931d-ab0aeefeed1e.pdf
Capital/Financing Update
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ASX RELEASE
25 June 2009
The Manager
Company Announcements Office Australian Securities Exchange 4[th] Floor, 20 Bridge Street Sydney NSW 2000
Electronic Lodgement
Dear Sir or Madam
Company Announcement
I attach the following announcement for release to the market:
- APA Group assigned credit rating by Standard & Poor’s
Yours sincerely
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Mark Knapman Company Secretary
ASX RELEASE
25 June 2009
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APA ASSIGNED CREDIT RATING BY STANDARD & POOR’S
APA Group (APA) has been advised that Standard & Poor’s Rating Services has assigned a ‘BBB’ long-term corporate credit rating (outlook Stable) to APT Pipelines Ltd, the borrowing entity of APA. This is APA’s initial credit rating by Standard & Poor’s.
APA’s Chief Financial Officer Peter Fredricson said “APA has long been considered investment grade in the various debt markets that it has accessed, so it is pleasing to note that the ‘BBB’ credit rating from Standard & Poor’s confirms this view. This rating will support our current refinancing activities and assist us in accessing a broader network of debt capital markets in the future.
“It is pleasing to note that Standard & Poor’s has noted that the stable rating outlook reflects the group’s strong business profile and their expectation that APA’s financial profile and credit metrics will stabilise as APA consolidates its business after a series of acquisitions and divestments” Mr Fredricson added.
A copy of Standard & Poor’s media release is attached.
For further information please contact:
Chris Kotsaris Investor Relations APA Group Telephone: (02) 9693 0049 Mob: 0402 060 508 Email: [email protected]
About APA Group (APA)
APA Group, comprising Australian Pipeline Trust and APT Investment Trust, is the major ASX-listed energy transmission company in Australia, transporting more than half of the natural gas used in Australia. APA has interests in over 12,000 km of natural gas pipeline infrastructure across the mainland and owns 2,800 km of gas distribution networks in Queensland and New South Wales.
APA has direct management and operational control over its assets, and also provides management and operation services to its investments, including gas distribution and transmission company Envestra.
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