Hongkong Electric Co. Ltd. Dec 12
- ID: 2359249
- December 2012
- Region: Hong Kong
- Standard & Poors
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....
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
- Hongkong Electric Co. Ltd.
- Eastern Power Networks PLC
- UK Power Networks Services (South East) Ltd
- Northumbrian Water Ltd.
- Hutchison Whampoa Ltd.
- Husky Energy Inc.
- Powercor Australia LLC
- Cheung Kong Infrastructure Holdings Ltd.
- The CitiPower Trust
- Power Assets Holdings Ltd.
- Hutchison Ports (U.K.) Ltd.
- CitiPower I Pty Ltd.
- ETSA Utilities Finance Pty Ltd.
- South Eastern Power Networks PLC
- London Power Networks PLC
- Hongkong Electric Finance Ltd.
- Bakethin Finance PLC
- Northern Gas Networks Ltd.
- Northern Gas Networks Holdings Ltd.
- Northern Gas Networks Finance PLC
- Powercor Australia Ltd.
- Powercor Australia Holdings Pty. Ltd.
- Hutchison Whampoa International (09) Ltd.
- UK Power Networks Holdings Ltd.
- UK Power Networks Services Holdings Ltd.