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Industry Report Card: Asia-Pacific Transportation Companies Hitch Ride On Regional Recovery Jul 10
Standard & Poors, July 2010
Abstract
The financial performance of transportation companies in the Asia-Pacific region has gradually improved, buoyed by the recovering macro economy. After weathering the global downturn, profits of airlines in the region, such as Qantas Airways Ltd. (BBB/Negative/A-3), Singapore Airlines Ltd. (NR), and Cathay Pacific Airways Limited (NR), have improved. Strong passenger demand underpinned by international business travel toward the end of 2009 continued into the first half of 2010, and most carriers posted net profits in the first quarter (Jan. 1, 2010, to March 31, 2010). However, there recovery could be slow due to uncertainty in Europe and the still fragile global economy. Shipping companies in the region, such as Nippon Yusen KK (NR), Mitsui O.S.K. Lines Ltd. (NR), Kawasaki Kisen...
Companies mentioned in this report are: MTR Corp. Ltd.,Qantas Airways Ltd.,East Japan Railway Co.,Kowloon Canton Railway Corp.,Kawasaki Kisen Kaisha Ltd.,Mitsui O.S.K. Lines Ltd.,MISC Berhad,Kowloon Motor Bus Co. (1933) Ltd.,Japan Airlines Corp.,Wan Hai Lines Ltd.,PT Arpeni Pratama Ocean Line Tbk.,PT Berlian Laju Tanker Tbk.,BW Group Ltd.
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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