Moody's: DBNGP, EPG and UED's ratings unaffected by DUET's proposed acquisition of EDL

Sydney, July 20, 2015 -- Moody's Investors Services ("Moody's") says that DUET Group's (unrated) announcement of the proposed acquisition of 100% of the equity in Energy Development Limited ("EDL", unrated) will not have any immediate impact on the exisitng ratings and outlooks of its portfolio of utility assets comprising 100% of Energy Partnership (Gas) Pty Ltd ("EPG", Baa3 stable), 80% of DBNGP Finance Co Pty Ltd ("DBNGP", Baa3 stable) and 66% of United Energy Distribution Pty Ltd ("UED", Baa2 stable ) (collectively the "operating assets"). DUET announced an AUD1.4 billion takeover offer for EDL on 20 July 2015, which is to be funded by a fully underwritten AUD1.67 billion equity issuance and implemented via a scheme of arrangement.

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