Fitch affirms Transurban

Fitch Ratings said it affirmed the long-term rating of Transurban Finance Co. Pty Ltd.'s unenhanced senior secured notes at A- following Transurban Group's announcement it would acquire all of the shares in Hills Motorway Group through a 100% scrip-funded takeover.

At the same time, Fitch affirmed the AAA rating on Transurban Finance's AUD840 million credit-wrapped senior secured notes. The outlook is stable.

The 100% scrip-based nature of the bid by Transurban for Hills Motorway and the credit quality of M2 is a major consideration in Fitch affirming Transurban Finance's ratings.

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