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Australian Postal Corp. 'AAA' Rating Affirmed; Outlook Stable Nov 08
Standard & Poors, Nov 2008
Abstract
MELBOURNE (Standard & Poor's) Nov. 10, 2008--Standard & Poor's Ratings Services today affirmed its 'AAA/A-1+' ratings on Australian Postal Corp. (Australia Post). The outlook is stable. The ratings are supported by Australia Post's dominant and diversified market position, trusted brand name, strong balance sheet and low debt, and its supportive relationship with the Commonwealth government of Australia. 'Australia Post has a dominant position in the provision of postal services, with roughly 39% of its revenue protected by a legislated monopoly,' said Standard & Poor's credit analyst Kyran Curry. 'Although its key reserved letters businesses recorded a modest loss in fiscal 2008, Australia Post has maintained a strong and increasingly diversified business and financial profile.' Slower growth in the core 'social'...
Companies mentioned in this report are: Australian Postal Corp.
Action: Affirmed
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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