Investor Presentaiton
INFRASTRUCTURE FOR THE FUTURE
INVESTMENT GRADE FUNDING
Issuer
Credit Rating (S&P / Moody's)
Weighted Average Maturity (1)
(31 December 2019)
Net Debt at 30 June 2020
(31 December 2019)
Net Debt/ RAB at 30 June 2020
(31 December 2019)
Net Debt/ RAB + CAB at 30 June 2020
(31 December 2019)
FFO / Net Debt at 30 June 2020
(31 December 2019)
Victoria
Power
Networks
A- / n/a
4.9 yrs
(5.4 yrs)
$4.666bn
($4.494bn)
71.6%
(70.9%)
SA Power
Networks
A- / n/a
6.4 yrs
(6.9 yrs)
$3.225bn
($3.232bn)
73.8%
(74.5%)
TransGrid
n/a / Baa2 (2)
(on USPP notes)
4.6 yrs (2)
(5.1 yrs)
$5.836bn (3)
($5.718bn)
87.4% (2)
(88.9%)
79.8% (3)
N/A
N/A
(80.2%)
14.4%
(15.2%)
Gross Debt at 30 June 2020
$4.737bn
17.8%
(16.7%)
$3.322bn
7.7% (2)
(8.1%)
$5.955bn (4)
(31 December 2019)
($4.555bn)
($3.262bn)
($5.846bn)
Spark Infrastructure has increased corporate facilities to $400m; rated Baa1 by Moody's
(1) Weighted average maturity calculation is based on drawn debt at 30 June 2020 (2) Relates to the Obligor Group (3) Net Debt is calculated using gross debt less cash and adjusted for prescribed revenue over/(under)
collection and includes TransGrid Services (4) Includes TransGrid Services
Spark Infrastructure I Investor Presentation | August 2020
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