Tuesday 24 January 2017 by FIIG Research Company updates

Company updates – DBNGP, Emeco and Fortescue

Dampier to Bunbury Natural Gas Pipeline placed on CreditWatch, Emeco announced it will hold a general meeting and Fortescue received a credit ratings upgrade

DUET Group subsidiary DBNGP

DUET Group has put forth a proposal for a consortium to acquire all its stapled securities on issue, with the ratings of four Australian subsidiaries – including DBNGP Trust – placed on CreditWatch in response to the announcement.

More information is available here.External link - opens in a new window

Emeco

Emeco has announced it will hold an extraordinary general meeting on 13 March 2017.

Previously, Emeco stated that noteholders who voted against the creditors’ scheme have now committed to support the transaction. On 3 January 2017, the company announced it had signed the revised restructuring agreement (RSA) for its merger with Orionstone Holdings and Andy’s Earthmovers.

An ASX release is available here.External link - opens in a new window

Fortescue

Moody’s has upgraded the corporate family rating (CFR) of Fortescue Metals Group (Fortescue), as well as the senior unsecured and senior secured ratings of FMG Resources (August 2006) Pty Ltd.

More information is available here*.External link - opens in a new window

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