SYDNEY (Standard&Poor's) June 8, 2011--Standard&Poor's Ratings Services said today that it had affirmed 'BBB+' long-term corporate and senior debt ratings on Genesis Power Ltd. (trading as Genesis Energy). At the same time, we have revised the outlook on the long-term corporate rating to stable from negative. We also affirmed the 'BB-' rating on Genesis Energy's capital bonds, which were assigned a "high" equity content. "The outlook revision reflects the final funding structure that Genesis Energy put in place for the recent acquisition of the Tekapo A and B power stations, as well as the board's commitment to a 'BBB+' rating through implementation of clear financial targets," Standard&Poor's credit analyst Thomas Jacquot said. The stable
