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Australian Postal Corp. 'AAA' Rating Affirmed Mar 03
Standard & Poors, March 2003
Abstract
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.
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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