AUSTRALIA

Moody's upbeat on AGL

AGL Energy's decision to get out of upstream gas production and stick to energy generation has attracted positive noises from Moody's, which has assigned a rating to AGL for the first time.

The Baa2 issuer rating, which applies to AGL and its AGL Hydro Partnership, is based on a stable outlook for the company. A Baa2 rating from Moody's is a medium-low investment-grade rating similar to...

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