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Australian Postal Corp. May 01
Standard & Poors, May 2001
Abstract
The ratings on Australian Postal Corp. (Post) reflect its dominant market position, its extremely strong financial position, its success in developing new businesses in areas open to competition, and its continued monopoly in the provision of some postal services in Australia. Post's government ownership imposes some financial burdens on the corporation, such as special dividend payouts in the past, and the requirement to absorb in the standard letter rates the goods and services tax (GST) introduced in fiscal 2001. Government ownership, however, reinforces confidence in the company's stability. Historically, Post has had a dominant position in the provision of traditional postal services in Australia, where it enjoyed a regulated monopoly until recently. Lately, the monopoly protection has been reduced and...
Companies mentioned in this report are: Australian Postal Corp.
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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