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Airservices Australia's A$100 million MTN Issue Rated 'AAA' May 02 Product Image

Airservices Australia's A$100 million MTN Issue Rated 'AAA' May 02

  • Published: May 2002
  • Standard & Poors

Abstract
MELBOURNE (Standard & Poor's) May 20, 2002--Standard & Poor's said today it had assigned its triple-'A' long-term rating to the planned A$100 million medium-term note issue of Airservices Australia (ASA; local currency, triple-'A'/Stable/'A-1'-plus). ASA is the Commonwealth-owned legislated sole provider of air traffic control in Australia. Although ASA is wholly owned by the Commonwealth of Australia (local currency, triple-'A'/Stable/'A-1'-plus; foreign currency, double-'A'-plus/Stable/'A-1'-plus), the federal government does not guarantee ASA's debt. Privatization of ASA is not on the government's agenda. "Although the underlying credit profile of the company is high investment-grade, the triple-'A' rating is strengthened by the implicit support of the government," said Kevin Lewis, associate director, Corporate & Infrastructure Finance Ratings. "Standard & Poor's considers the implicit support from...

Companies mentioned in this report are: Airservices Australia,Australia (Commonwealth of) (Unsolicited Ratings)
Action: New Rating

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Airservices Australia,Australia (Commonwealth of) (Unsolicited Ratings)

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