Moody's issues new Origin Energy rating

Origin Energy LPG

Origin Energy LPG

Credit ratings firm Moody’s yesterday revised Origin Energy’s rating from Baa2 (negative outlook) to Baa3 (stable), according to a statement from the energy company.

A statement to the ASX dated August 10 confirmed the new rating off the back of successful sale of Origin’s 53.09 per cent stake in New Zealand firm, Contact Energy Limited.
Karen Moses, executive director of finance and strategy at Origin said the sale of Contact Energy has improve the company’s financial position.
“Proceeds from the sale of Origin’s interest in Contact will provide Origin increased financial flexibility in the short to medium term,” she said.

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