S&P: ETSA Utilities notes A-

Standard & Poor's said it assigned its A- long-term rating to ETSA Utilities Finance Pty Ltd.'s proposed A$200 million senior unsecured medium-term notes issue.

The notes are to be issued under ETSA Utilities Finance Pty Ltd.'s existing A$1 billion medium-term notes program.

ETSA Utilities Finance Pty Ltd. is the finance arm of SA Power Networks. The agency said the A-/stable corporate credit rating on SA Power Networks, reflects S&P's view of the company's adequate liquidity and high level of cash-flow certainty and stability, given that most of SA Power Networks' income is derived from a regulated distribution business.

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