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Hongkong Electric Co. Ltd. Dec 12
Standard & Poors, December 2012
De facto monopoly in its service area Favorable regulatory environment in Hong Kong Stable operations and electricity demand growth Exposure to parent's overseas expansion Concentration risk due to generating assets at a single site The rating on Hong Kong-based vertically integrated electric utility Hongkong Electric Co. Ltd. (HEC) reflects the company's monopoly in its service area, the favorable regulatory environment, stable electricity demand in Hong Kong, and "modest" financial risk profile. The concentration of HEC's generation assets at a single site and the company's reliance on coal as a major fuel source offset these strengths. HEC's monopoly in Hong Kong and Lamma islands supports the company's "excellent" business risk profile. HEC accounts for 26% of Hong Kong's total electricity supply....
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Research Type: Full Analysis
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