Moody's affirms PSA

Moody's Investors Service said it affirmed the Aaa issuer rating of PSA Corp. Ltd. (PSAC) after its rating assessment of PSA International Pte Ltd. (PSAI) and review of the relationship between the two companies against the backdrop of the expanded business of PSAI.

"Moody's expects PSAC, which is a world-class port operator and important to Singapore strategically and reputationally, to receive full support from PSAI, an Aaa-rated issuer," said Peter Choy, a vice president/senior credit officer and Moody's lead analyst for PSAC.

The agency added that PSAC's Aaa rating is based upon Moody's expectation of a high level of support from PSAI, the high dependency between PSAC and PSAI and a baseline credit analysis rating of 3 on a scale of 6, where 1 represents the lowest credit risk.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.