Downer EDI Limited (Downer) advises the following in relation to Reliance Rail’s receipt of a ‘reservation of rights’ letter from its banking syndicate:
• Moody’s Investors Service has placed Reliance Rail Finance Pty Limited’s Ba1 senior debt rating and the Ba3 subordinate debt rating on review for possible downgrade;
• Standard & Poor’s Ratings Services has stated that the reservation of legal rights notice did not affect Reliance Rail's rating and has maintained the BBB- rating on Reliance Rail’s secured senior debt and the BB rating on Reliance Rail’s junior secured debt.
Reliance Rail’s funding arrangements are non-recourse to Downer and other Reliance Rail shareholders.
CONTACT DETAILS
Investors: Ross Moffat, Executive General Manager Investor Relations, T: +61 412 256 224
Media: Maryanne Graham, Group General Manager Corporate Affairs, T: +61 407 252 230
Downer EDI Limited is an ASX -100 company providing comprehensive engineering and infrastructure design, construction, maintenance and management services to the transport, energy, infrastructure, communications and the resources sectors. The Group works throughout Australia, New Zealand, Asia and the United Kingdom.