Moody's confirms Transurban

Moody's Investors Service said it confirmed the A3 senior secured rating of Transurban Finance Co. Pty Ltd.

The outlook is stable.

"This rating action follows the completion of the Transurban Group's acquisition of Sydney Roads Group and the finalization of the transaction's funding structure," said Clement Chong, a Moody's VP/senior Analyst.

"Accordingly, Transurban now owns five good-quality and mature toll roads. These assets will contribute to 90% of the group's consolidated EBITDA over the next few years."

At the same time, the A3 rating reflects the group's high financial leverage, which - despite its greater asset diversity - positions it weakly against other rated toll roads or infrastructure peers at the same rating level, the agency noted.

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