16 July 2007
KCRC Welcomes Affirmation of Credit Ratings
The Kowloon-Canton Railway Corporation today welcomed the announcements made by the three credit rating agencies on the credit ratings of the Corporation.
Moody's Investors Service (Moody's) and Standard & Poor's Rating Services (S&P) both affirmed KCRC's current ratings unchanged while Fitch Ratings (Fitch) has upgraded the Corporation's local currency long-term rating from AA to AA+ and its foreign currency rating from AA- to AA.
Fitch F1+ AA+ AA Stable
Moody's P – 1 Aa3 Aa3 Stable
S & P A1+ AA AA Stable
A KCRC spokesman said, "The ratings reflect the continued strong support from the Hong Kong SAR Government as well as confidence on the part of the credit agencies in the Corporation fulfilling its financial commitments. Final preparations for the proposed merger of Hong Kong's two rail systems, following the passage of the Merger Bill in the Legislative Council, are proceeding satisfactorily."