SYDNEY: Origin Energy Limited has noted the decision by Standard & Poor’s Global Ratings (S&P) 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.”