MELBOURNE (Standard&Poor's) Aug. 20, 2009--Standard&Poor's Ratings Services said today that it had assigned its 'BBB+' long-term rating to Genesis Power Ltd.'s (Genesis; BBB+/Stable/--) proposed NZ$25 million fixed-rate medium-term notes (MTNs) and NZ$25 million floating-rate MTNs. The MTNs will be senior unsecured and unsubordinated debt of Genesis and rank pari passu with all other unsecured senior obligations of the company. The proposed MTNs will have a maturity of 7.5 years (due in February 2017). The proceeds will be used for general corporate purposes and will improve the overall debt-maturity profile of the company. We expect Genesis' fiscal 2009 performance to be satisfactory. Meantime, the New Zealand government's likely deferral of a carbon scheme until January 2011 would,
