MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has
affirmed its 'B' ratings with a stable outlook on Cheniere Energy Inc, following
the liquefied natural gas (LNG) project developer's annual review.
The rating agency said the 'B' corporate credit rating reflects Cheniere's
vulnerable business risk profile and highly leveraged financial risk profile.
The business profile score reflects Cheniere's status as a start-up LNG
project developer with substantial execution and financing risks.
Moreover, while Cheniere's business strategy is currently focused on the
development of its three wholly-owned proposed terminals, the business profile
also reflects the management's pursuit of other business lines that include
other parts of the LNG value chain, S&P said.
The stable outlook is based on the company's current unrestricted cash
balance, which is adequate to meet current interest payments, S&P added.
TFN.newsdesk@thomson.com
npr/ypv
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