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Australian Postal Corp. Jul 02
Standard & Poors, July 2002
Abstract
The ratings on Australian Postal Corp. (Post) reflect its dominant market position, its extremely strong financial profile, its success in developing new businesses in areas open to competition, and its continued monopoly in the provision of some postal services in Australia. Post's government ownership imposes some financial burdens on the corporation, such as special dividend payouts in the past and the requirement to absorb into the standard letter rates the goods and services tax (GST) introduced in fiscal 2001. Government ownership, however, reinforces confidence in the company's stability. Post has a dominant position in the provision of traditional postal services. In recent years, the monopoly protection that Post enjoyed on all its postal services until the late 1980s has been...
Companies mentioned in this report are: Australian Postal Corp.,Australia (Commonwealth of) (Unsolicited Ratings),Australian Industry Development Corp.,Export Finance & Insurance Corp.,Colonial Finance Ltd.,The Colonial Mutual Life Assurance Society Ltd. (NZ Branch),Commonwealth Scientific and Industrial Research Organisation
Action: Review
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
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