S&P ups Hankyu

Standard & Poor's said it raised its long-term corporate credit rating on Hankyu Hanshin Holdings Inc. by one notch to BBB- from BB+, reflecting the increasing stability of cash flow from its core railway and real estate businesses as a result of the continuing economic recovery in the Kansai region.

At the same time, S&P said it also raised its long-term senior unsecured debt rating on the company by one notch to BBB from BBB-.

The outlook on the long-term corporate credit rating is stable.

According to S&P, the rating on Hankyu Hanshin Holdings also incorporates expected enhancement of the company's earnings base due to the steady progress in business integration of Hankyu Holdings and Hanshin Electric Railway Co. Ltd., and the company's ability to maintain improvements to its financial profile over the medium term based on its stable cash flow.

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