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Snowy Hydro credit rating downgraded because of global downturn and low rainfall forecasts – ABC News
With mounting costs, the global economic downturn, falling energy prices and poor short-term rainfall projections, Snowy Hydro and its landmark hydropower proje…
Snowy Hydro is facing an uphill battle, struggling against mounting costs for its landmark Snowy 2.0 hydropower project, the global economic downturn affecting energy prices, and poor short-term rainfall projections.
Key points:
- Snowy Hydro’s credit rating has been downgraded and is unlikely to be upgraded again anytime soon
- It has been suggested the Federal Government may need to support the company in the future
- Snowy 2.0 is currently underway and is an expansion of t…
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