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Australian Postal Corp. Retains Dominant Market Position and 'AAA' Rating Jul 02
Standard & Poors, July 2002
Abstract
MELBOURNE (Standard & Poor's) July 3, 2002--Standard & Poor's said today it affirmed its triple-'A' long-term local currency rating, double-'A'-plus long-term foreign currency rating, and 'A-1'-plus short-term credit ratings on Australian Postal Corp. (Post), as Post has retained its dominant market position, extremely strong financial position, and monopoly in the provision of some postal services in Australia. The outlook remains stable. 'Post has maintained a high level of customer satisfaction in the traditional postal services reserved exclusively for it under legislation. Furthermore, it has diversified into businesses fully open to competition, such as bill-paying services, financial services, and logistics,' said Sharad Jain, senior financial analyst, Public Finance Ratings. 'Post has leveraged off its operational expertise, extensive retail network, and strong...
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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