‘White elephant’ desalination plant placed on ratings watch

Original article by Ben Potter
The Australian Financial Review – Page: 8 : 10-Jan-17

Fitch Ratings has placed Victoria’s Wonthaggi desalination plant on negative watch. The credit rating agency stated on 6 January 2017 that the negative watch move is related to the recent equipment failure, which raised doubts about the plant’s financial position. The plant is owned and operated by Aquasure, which has debts of $A3.65 billion. Fitch rates Aquasure’s senior debt "A-" and S&P Global Ratings rates it "BBB+".

CORPORATES
FITCH RATINGS LIMITED, S&P GLOBAL RATINGS, AQUASURE, UNISUPER LIMITED, SUEZ ENVIRONMENT, KOOKMIN BANK LIMITED, ITOCHU CORPORATION, CIMIC GROUP LIMITED – ASX CIM

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