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Australia Post 'AAA' Rating Affirmed Jun 05
Standard & Poors, June 2005
Abstract
MELBOURNE (Standard & Poor's) June 8, 2005--Standard & Poor's Ratings Services today affirmed its AAA/Stable/A-1+ ratings on Australian Postal Corp. (Australia Post). Although Australia Post's businesses face softening of organic growth, the company maintains its solid business and financial profiles. It has taken measures to strengthen its parcels and express business by acquiring Star Track Express (a parcels network business) and J R Haulage (a warehousing and distribution business), forming an alliance with other major postal operators, and setting up an office in China. 'The ratings on Australia Post reflect its very strong market position, robust cash flow performance, and a supportive relationship with the government,' said Standard & Poor's credit analyst Sharad Jain, Sovereign and International Public Finance Ratings....
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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