Santos has noted that Standard & Poor’s Rating Services (S&P) has revised its long-term senior unsecured credit rating for Santos from BBB+ to BBB.
The company’s CFO, Andrew Seaton, said that Santos retained an investment grade credit rating from S&P.
Seaton explained: “Santos has a robust funding position, with approximately AUS$2 billion in cash and undrawn debt facilities available as at 30 November 2014.
“S&P in their announcement note Santos’ track record of a conservative funding approach, favourable debt maturity profile and adequate liquidity.
“Furthermore, S&P notes project execution risks are diminishing, with PNG LNG starting production in April 2014 and GLNG 90% complete in November 2014.”
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09122014/santos-remains-positive-despite-rating-drop-1930/