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Australian Postal Corp. 'AAA' Rating Affirmed Mar 03
Standard & Poors, March 2003
MELBOURNE (Standard & Poor's) March 25, 2003--Standard & Poor's Ratings Services today affirmed its 'AAA' long-term and 'A-1+' short-term ratings on the Australian Postal Corp. (Post). These are the highest ratings issued by Standard & Poor's. The outlook remains stable. Post continues to enjoy a monopoly on the standard letter mail service in Australia. This provides a solid base to about 50% of Post's revenues. "Although this revenue is safe from competition from other service providers, Post faces stiff competition from technical substitution and the increasing popularity of e-mail and especially the Internet," said Brendan Flynn, associate director, Public Finance Ratings. "However, Post has been very successful in developing its business in other markets, building on its strong brand name...
Companies mentioned in this report are: Australian Postal Corp.
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Australian Postal Corp.