Genesis Energy Ltd.'s Proposed Fixed-Rate Medium-Term Notes Rated 'BBB+'

SYDNEY (S&P Global Ratings) March 31, 2017--S&P Global Ratings today said that it had assigned its 'BBB+' long-term issue credit rating to Genesis Energy Ltd.'s (BBB+/Stable/NR) proposed issuance of NZ$100 million in unsecured, unsubordinated, fixed-rate medium term notes (MTNs). The fixed-rate MTNs will be issued with a tenor of eight years 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 repayment of current outstanding balance under the company's banking facilities. 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

...SYDNEY (S&P Global Ratings) March 31, 2017--S&P Global Ratings today said that it had assigned its '###+' long-term issue credit rating to Genesis Energy Ltd.'s (###+/Stable/##) proposed issuance of NZ$100 million in unsecured, unsubordinated, fixed-rate medium term notes (MTNs). The fixed-rate MTNs will be issued with a tenor of eight years 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 repayment of current outstanding balance under the company's banking facilities. 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 and oil prices through its owned-generation portfolio and adequate hedging strategy. RELATED CRITERIA + General Criteria: Rating Government-Related Entities:...

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