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Viewing report
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Airport Authority Hong Kong
Standard & Poors, March 2009
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Government ownership and support Strong competitive position Conservative financial policy Potential competition from other airports in the Pearl River Delta Certain degree of revenue concentration The ratings on the Airport Authority Hong Kong (AAHK) reflect the strong support from the Hong Kong SAR Government (AA+/Stable/--), the authority's strong competitive position as a major international airport hub in the Pearl River Delta region, and its conservative financial risk profile. These strengths are partly offset by potential competition from other airports in the region and a certain degree of revenue concentration. Under Standard & Poor's government-related entities rating methodology, AAHK is considered to be a commercial institution and the rating is based on the authority's underlying credit quality and the level of...
Companies mentioned in this report are: Airport Authority Hong Kong,Hong Kong (Special Administrative Region),Hong Kong Mortgage Corp. Ltd. ,Urban Renewal Authority
Action: Review
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