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Origin Energy Finance Limited -- Moody's upgrades Origin Energy and Origin Energy Finance to Baa2; outlook stable

Moody's Investors Service has today upgraded Origin Energy Limited's (Origin's) long term issuer and its senior unsecured debt rating to Baa2 from Baa3 and its short term rating to P-2 from P-3. Moody's has also upgraded Origin Energy Finance Limited's senior unsecured rating to Baa2 from Baa3, senior unsecured MTN program rating to (P)Baa2 from (P)Baa3, and preference stock rating to Ba1 from Ba2. "The upgrade reflects our expectation that Origin's credit metrics will be sustained at levels consistent with Baa2 rating parameters, a result of the improved underlying performance and contribution from its APLNG investment as well as the company's deleveraging strategy and prudent balance sheet management" says Nicholas Chapman, a Moody's Vice President and Senior Analyst.