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Southern Cross Airports Corporation Holdings Ltd. May 11 Product Image

Southern Cross Airports Corporation Holdings Ltd. May 11

  • Published: May 2011
  • Standard & Poors

Abstract
Excellent business risk profile, supported by strong market and competitive position Reasonably resilient passenger demand Relatively reliable cash flow, supported by some diverse revenue streams compared to peers Aggressive financial risk profile and some complexity in financial structure Limited tolerance to financial underperformance Exposure to passenger volume risk The 'BBB-' corporate credit rating on Southern Cross Airports Corporation Holdings Ltd. (SCACH), the ultimate owner of Sydney's Kingsford Smith Airport (KSA)?Australia's largest and busiest airport, reflects our view of the group's "excellent" business risk profile. In our opinion, KSA airport is characterized by reasonably resilient passenger demand, reliable cash flow with a degree of diversity, and its strong business position as the only international airport in Sydney (Australia's most populous city)....

Companies mentioned in this report are:
- Southern Cross Airports Corp. Holdings Ltd.
- Sydney Airport Finance Co. Pty Ltd.

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance READ MORE >

- Southern Cross Airports Corp. Holdings Ltd.
- Sydney Airport Finance Co. Pty Ltd.

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