In relation to the announcement made on 15 January 2013, Standard & Poor’s have today issued a research update where the Njord Gas Infrastructure AS’ (the ‘Company’) bond ratings are placed on CreditWatch negative in response to the tariff review.
In the ratings review, Standard and Poor’s state that “The proposal is subject to consultation and therefore not final, but if approved, the tariff reductions would lead to a substantial fall in revenues for Norway-based asset company Njord Gas Infrastructure AS (NGI) for the period beyond 2022. We are therefore placing on CreditWatch negative the
long-term issue ratings on the bonds issued by NGI. If enacted as proposed, the tariff reductions could lead to downgrades of more than one notch. We aim to resolve the CreditWatch placement following finalization of the tariff structure by the MPE.”
The Company intends to continue to be working closely with Standard and Poor’s throughout the CreditWatch period.
Dated: 21 January 2013
Njord Gas Infrastructure AS
The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs – Continuing Obligations.
Njord Gas Infrastructure AS is headquartered in Stavanger, Norway. It invests in Norwegian gas infrastructure and currently holds an 8.036% participating interest in Gassled. For more information, please refer to http://njordgasinfra.no/.
For information, please contact:
Birte Norheim, Finance Director
+47 51911064 office
+47 95293321 mobile