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TEXT-S&P Rates Origin Energy Ltd.'s Proposed Eur500 Mil MTN 'BBB+'

(The following was released by the rating agency)

SYDNEY (Standard & Poor's) Oct. 5, 2012--Standard & Poor's Ratings Services said today that it had assigned its 'BBB+' rating to the EUR500 million, 7-year fixed-rate, senior guaranteed notes to be issued by Origin Energy Finance Ltd under its US$10 billion medium-term notes (MTN) program. The notes will be guaranteed by Origin Energy Ltd. (Origin; BBB+/Negative/A-2) and certain of its subsidiaries. When issued, the notes will rank pari passu with other senior unsecured debt issued or guaranteed by Origin. The proceeds are expected to be used to repay existing debt and to fund the company's capital contributions to the Australia Pacific LNG Pty Ltd.'s coal-seam-gas to liquefied-natural-gas project.

RELATED CRITERIA AND RESEARCH

-- 2008 Corporate Criteria: Analytical Methodology, April 15, 2008

-- 2008 Corporate Criteria: Ratios and Adjustments, April 15, 2008

-- 2008 Corporate Criteria: Rating Each Issue, April 15, 2008

Keywords: MARKETS RATINGS ORIGINENERGYLTD