TransAlta Corp. has reiterated that it will continue to focus on strengthening its balance sheet despite Moody's Investor Services Inc. decision to place the company's rating of its senior unsecured debt under review for possible downgrade.
The announcement by Moody's is not anticipated to have a material financial impact on TransAlta's business as the Company maintains investment grade ratings with stable outlooks from three credit rating agencies including BBB- (stable outlook) by S&P, BBB (stable outlook) by DBRS and BBB- (stable outlook) by Fitch. TransAlta continues to maintain $2.1 billion in committed credit facilities with approximately $1.0 billion in available liquidity as of 30 June 2015 and no material debt maturity until 2017.
TransAlta will continue to execute its plan to strengthen its financial position and remains committed to its financial and operating goals for 2015, including its plan to further reduce debt levels.
Edited from press release by Angharad Lock
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