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Testing Times Ahead For Asia-Pacific Transportation Firms, Says S&P Report Apr 09
Standard & Poors, April 2009
Abstract
TOKYO (Standard & Poor's) April 21, 2009--A significant slowdown in transport volume, coupled with heightened pricing pressure, has placed increased pressure on the creditworthiness of transportation companies in the Asia-Pacific region over the past several months, Standard & Poor's Ratings Services said in a report published today. These problems are particularly acute for airlines and shipping companies. Although cost pressures relating to soaring fuel prices have eased, a sharp decline in demand for both passenger and cargo transport resulting from the global economic downturn is proving to be an even stronger risk factor in terms of credit quality. Also, some players are experiencing difficulty in obtaining short-term funding as a result of ongoing turmoil in the financial markets. In sum,...
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.,NCL Corp. Ltd.,Star Cruises Ltd.,Pacific International Lines (Pte.) Ltd.,PT Arpeni Pratama Ocean Line Tbk.,PT Berlian Laju Tanker Tbk.,BW Group Ltd.
Action: General Comment
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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