Fitch Affirms and Withdraws Australia's Energex's Ratings

(The following statement was released by the rating agency)SYDNEY, July 01 (Fitch) Fitch Ratings has affirmed Australia's Energex Limited's (Energex) Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'AA' with Stable Outlook and its Short-Term Foreign-Currency IDR at 'F1+'. At the same time, Fitch is withdrawing all the ratings of Energex as it is no longer considered by Fitch to be relevant to the agency's coverage because the entity no longer holds long-term debt. This follows a reorganisation of its long-term debt following a merger of the two Queensland state-owned electricity distribution network businesses, including Energex, under a new parent holding company - Energy Queensland Limited.RATING SENSITIVITIESRating Sensitivities are not applicable as the ratings have been withdrawn. Contact: Primary AnalystSajal KishoreSenior Director+612 8256 0321Fitch Australia Pty LtdLevel 15, 77 King Street, Sydney NSW 2000Secondary AnalystDavid CookDirector+612 8256 0363Committee ChairpersonMatthew JamiesonSenior Director+612 8256 0366Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.tan@fitchratings.com.Additional information is available on www.fitchratings.comApplicable Criteria Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage (pub. 17 Aug 2015)https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=869362Recovery Ratings and Notching Criteria for Utilities (pub. 04 Mar 2016)https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=878227Additional Disclosures Dodd-Frank Rating Information Disclosure Form https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr _id=1008318Solicitation Status https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1008318Endorsement Policy https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&det ail=31ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S FREE WEB SITE AT WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE. Fitch Australia Pty Ltd holds an Australian financial services licence (AFS licence no. 337123) which authorises it to provide credit ratings to wholesale clients only. Credit ratings information published by Fitch is not intended to be used by persons who are retail clients within the meaning of the Corporations Act 2001.