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Australian Postal Corp. Aug 06
Standard & Poors, Aug 2006
Abstract
Dominant and increasingly diversified market position Solid cash flow protection Supportive relationship with the government Slow growth in core letters business Strong competition in nonreserved business lines Stringent government-mandated community access and performance standards On Aug. 2, 2006, Standard & Poor's Ratings Services affirmed its 'AAA/Stable/A-1+' ratings on Australian Postal Corp. (Australia Post). Although there has been weaker trend growth in key areas of its businesses, Australia Post has continued to maintain a strong and increasingly diversified business and financial profile. Australia Post is Australia's state-owned postal carrier. Its main businesses are acceptance and delivery of letters (including promotional and advertising material), parcels, and express mail, as well as providing agency functions for financial transactions (mainly payment of bills for...
Companies mentioned in this report are: Australian Postal Corp.,Qantas Airways Ltd.
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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