Moody’s rates Transurban Finance notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to Transurban Finance Co. Pty Ltd.'s $550 million Rule 144A/Regulation S senior secured notes offering.

The outlook is stable.

Notes issued in the offering will be guaranteed by Transurban Ltd., Transurban Holdings Ltd., Transurban International Ltd. and Transurban Infrastructure Management Ltd. (as responsible entity of the Transurban Holding Trust), and will rank pari passu with all the other senior secured debt of Transurban Finance.

Transurban Finance intends to use the proceeds for refinancing existing maturities, funding Transurban's development pipeline and general corporate purposes.

Transurban Finance is the financing vehicle for the Transurban Group. Transurban is a developer and operator of toll roads under long-term concessions, predominantly in Australia.

Moody’s said the Baa1 rating is underpinned by Transurban's diversified portfolio of toll road concessions, which are mostly characterized by established traffic histories and a stable competitive and regulatory environment.

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