Genesis Energy Ltd.'s Proposed Fixed-Rate Bonds Rated 'BBB+'

SYDNEY (Standard&Poor's) March 8, 2016--Standard&Poor's Ratings Services today said that it had assigned its 'BBB+' long-term issue credit rating to Genesis Energy Ltd.'s (BBB+/Stable/NR) proposed issuance of up to NZ$75 million in unsecured, unsubordinated, fixed-rate bonds, with the ability to accept oversubscriptions of up to NZ$25 million. The fixed-rate bonds will be issued with a tenor of six years under Genesis Energy's master trust deed established November 2008, and rank pari passu with all of Genesis Energy's existing senior unsecured debt. The proceeds of the bond issue will be used for general corporate purposes, including refinancing upcoming debt maturity. The rating is subject to confirmation of final terms and conditions. The rating on Genesis Energy reflects

...SYDNEY (Standard & Poor's) March 8, 2016--Standard & Poor's Ratings Services today said that it had assigned its '###+' long-term issue credit rating to Genesis Energy Ltd.'s (###+/Stable/##) proposed issuance of up to NZ$75 million in unsecured, unsubordinated, fixed-rate bonds, with the ability to accept oversubscriptions of up to NZ$25 million. The fixed-rate bonds will be issued with a tenor of six years under Genesis Energy's master trust deed established November 2008, and rank pari passu with all of Genesis Energy's existing senior unsecured debt. The proceeds of the bond issue will be used for general corporate purposes, including refinancing upcoming debt maturity. The rating is subject to confirmation of final terms and conditions. The rating on Genesis Energy reflects the strong market position of the company as New Zealand's largest energy retailer with a modest generation position. We expect Genesis Energy will continue to manage appropriately its exposure to volatile electricity...

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