Bulletin: Genesis Energy's Performance Remains In Line With Our Expectations; Planned Thermal Unit Closure Has No Ratings Impact - S&P Global Ratings’ Credit Research

Bulletin: Genesis Energy's Performance Remains In Line With Our Expectations; Planned Thermal Unit Closure Has No Ratings Impact

Bulletin: Genesis Energy's Performance Remains In Line With Our Expectations; Planned Thermal Unit Closure Has No Ratings Impact - S&P Global Ratings’ Credit Research
Bulletin: Genesis Energy's Performance Remains In Line With Our Expectations; Planned Thermal Unit Closure Has No Ratings Impact
Published Aug 25, 2015
Published Aug 25, 2015
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Abstract:

SYDNEY (Standard&Poor's) Aug. 25, 2015--Standard&Poor's Ratings Services said today that its 'BBB+/Stable/--' issuer credit ratings on New Zealand integrated utility Genesis Energy Ltd. are unaffected by the announcement of the company's year-ended June 30, 2015 results, announced today. Fiscal 2015 EBITDA came in at the upper end of our NZ$345 million-NZ$355 million expectation, while debt was broadly in line with our expectations, translating in a ratio of debt to EBITDA that is at the stronger end of our expected range of 2.5x-2.7x. We note that Genesis Energy continues to actively manage its generation portfolio versus the spot market to take advantage of lower spot wholesale power prices to meet its retail load. In addition, the company's

  
Report Type:

Bulletin

Ticker
1157Z@NZ
Issuer
Genesis Energy Ltd.
GICS
Electric Utilities (55101010)
Sector
Global Issuers
Country
New Zealand
Region
Pacific
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Genesis Energy's Performance Remains In Line With Our Expectations; Planned Thermal Unit Closure Has No Ratings Impact" Aug 25, 2015. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Genesis-Energy-s-Performance-Remains-In-Line-With-Our-Expectations-Planned-Thermal-Unit-Closure-Has-No-Ratings-Impact-1441935>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Genesis Energy's Performance Remains In Line With Our Expectations; Planned Thermal Unit Closure Has No Ratings Impact Aug 25, 2015. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Genesis-Energy-s-Performance-Remains-In-Line-With-Our-Expectations-Planned-Thermal-Unit-Closure-Has-No-Ratings-Impact-1441935>
  
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