Hongkong Land Holdings Ltd. http://www.alacrastore.com/company-snapshot/Hongkong_Land_Holdings_Ltd-1008155 Sunday, September 07, 2008 2:48:56 PM 1008155 Hongkong Land Holdings Ltd. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/bir/1198041bir/1198041normHongkong Land Holdings Ltd.Hong KongReal Estate: Commercial property development, investment, leasing and management; infrastructure investment.655265192372105311909EJHKHGF8/9/2008 6:14:33 AM1198041Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/628004spcred/628004normThe latest Full Report from S&P1/29/2008 8:30:06 AMFull Report400structuredglobal628004Hong KongReal Estate Management & DevelopmentAsiaEmerging MarketsStructured FinanceGlobal IssuersCorporationsReal Estate CompaniesCapital GoodsFull ReportLeading position in Hong Kong's grade-A office rental market Well-located, above-average-quality property assets Increasing geographic and business diversity Strong liquidity and conservative liability management Weak debt protection measures for the rating The inherently cyclical nature of the property market Geographical concentration with 80% of assets in Hong Kong The rating on Hongkong Land Holdings Ltd. reflects the company's leading position in Hong Kong's commercial property leasing market, its above-average asset quality, and its strong liquidity and liability management. The rating also reflects the company's growing investments in commercial and residential property development outside of Hong Kong. These factors are tempered by the company's still weak, albeit improving, credit protection ratios, increased cash flow volatility due to its expansion into residentialHKG40403010 404030 4040 40Hongkong Land Holdings Ltd.347031ASIAEMERGINGHKL@SPFULLBMUHKG43858247111940201030 402010 4020 4040403010 404030 4040 40Hongkong Land Co. Ltd.Jardine Strategic Holdings Ltd.349727355118ASIAEMERGINGEUROMIDAFRLATAMERICAUSAHLCZ@HKJS@SPSTRUCGLOBISSCORPRECCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/628005spcred/628005normThe latest Summary from S&P1/29/2008 8:30:06 AMSummary175globalstructured628005Hong KongReal Estate Management & DevelopmentAsiaEmerging MarketsGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesCapital GoodsSummaryThe rating on Hongkong Land Holdings Ltd. reflects the company's leading position in Hong Kong's commercial property leasing market, its above-average asset quality, and its strong liquidity and liability management. The rating also reflects the company's growing investments in commercial and residential property development outside of Hong Kong. These factors are tempered by the company's still weak, albeit improving, credit protection ratios, increased cash flow volatility due to its expansion into residential property development, and the cyclicality of the property market. Hongkong Land's relationship with its largest shareholder, Jardine Strategic Holdings Ltd. (BBB+/Stable/--), is also an important rating factor. Jardine Strategic Holdings has significant board-level influence over Hongkong Land. Hongkong Land has a predictable income stream from its 5 millionHKG40403010 404030 4040 40Hongkong Land Holdings Ltd.347031ASIAEMERGINGHKL@SPSUMMARYBMU47111940201030 402010 4020 40Jardine Strategic Holdings Ltd.355118ASIAEMERGINGLATAMERICAJS@SPGLOBISSSTRUCCORPRECCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_600012569moodys/COP_600012569htmlGlobal Credit Research Credit Opinion ## APR #### Credit Opinion: Hongkong Land Holdings Limited Hongkong Land Holdings Limited Hong Kong Ratings Category Moody's Rating Outlook Stable Issuer Rating Baa# Hongkong Land Company Limited...1/2/2008 7:28:00 PMhtmlHongkong Land Holdings LimitedHongkong Land Holdings Limited600012569150.0000NewsCredit OpinionCOP_600012569Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/619854spcred/619854normThe latest News from S&P12/14/2007 4:31:04 AMNews100globalstructured619854Hong KongReal Estate Management & DevelopmentAsiaEmerging MarketsGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesCapital GoodsNewsHONG KONG (Standard&Poor's) Dec. 14, 2007--Standard&Poor's Ratings Services said today that it had revised its outlook on Hongkong Land Holdings Ltd. (Hongkong Land) to positive from stable. At the same time, the 'BBB+' long-term and 'A-2' short-term corporate credit ratings on Hongkong Land, and the 'BBB' senior unsecured foreign-currency issue rating on the company, were affirmed. Standard&Poor's also revised its outlook on Hongkong Land Co. Ltd. to positive from stable, and affirmed its 'BBB+' long-term and 'A-2' short-term corporate credit ratings and 'BBB+' senior unsecured issue rating on the company. "The outlook revision reflects Hongkong Land's improved credit protection ratios, and the expectation of further improvements because of higher rental income," said Standard&HKG40403010 404030 4040 40Hongkong Land Holdings Ltd.347031ASIAEMERGINGHKL@SPNEWSBMUHKG43858247111940201030 402010 4020 4040403010 404030 4040 40Hongkong Land Co. Ltd.Jardine Strategic Holdings Ltd.349727355118ASIAEMERGINGEUROMIDAFRLATAMERICAUSAHLCZ@HKJS@SPGLOBISSSTRUCCORPRECCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/619855spcred/619855normThe latest Research Update from S&P12/14/2007 4:31:04 AMResearch Update175globalstructured619855Hong KongReal Estate Management & DevelopmentAsiaEmerging MarketsGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesCapital GoodsResearch UpdateOn Dec. 14, 2007, Standard&Poor's Ratings Services revised its outlook on Hongkong Land Holdings Ltd. (Hongkong Land) to positive from stable. At the same time, the 'BBB+' long-term and 'A-2' short-term corporate credit ratings on Hongkong Land, and the 'BBB' senior unsecured foreign-currency issue rating on the company, were affirmed. Standard&Poor's also revised its outlook on Hongkong Land Co. Ltd. to positive from stable, and affirmed its 'BBB+' long-term and 'A-2' short-term corporate credit ratings and 'BBB+' senior unsecured issue rating on the company. The outlook revision reflects Hongkong Land's improved credit protection ratios, and the expectation of further improvements because of higher rental income. The ratings reflect Hongkong Land's leading position in Hong Kong's commercialHKG40403010 404030 4040 40Hongkong Land Holdings Ltd.347031ASIAEMERGINGHKL@SPRESUPDBMUHKG43858247111940201030 402010 4020 4040403010 404030 4040 40Hongkong Land Co. Ltd.Jardine Strategic Holdings Ltd.349727355118ASIAEMERGINGEUROMIDAFRLATAMERICAUSAHLCZ@HKJS@SPGLOBISSSTRUCCORPRECCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_145879_600012569moodys/PR_145879_600012569htmlAnnouncement12/11/2007 4:24:42 AMGlobal Credit Research Announcement ## DEC #### Announcement: Hongkong Land Holdings Limited Moody's affirms Hongkong Land's A# rating; outlook Stable Hong Kong, December ##, #### -- Moody's Investors Service has affirmed the A# issuer...Hongkong Land Holdings Limited600012569150.0000Newshtml37900Hongkong Land Company LimitedHongkong Land Company Limited; Hongkong Land Holdings LimitedPR_145879_600012569Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/fitch/353984_report_framefitch/353984_report_framepdfHongkong Land Holdings Ltd.8063842711/15/2007 10:13:00 AM01031800150Credit UpdateH78Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.353984_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/376212_pr_framefitch/376212_pr_framehtmlHongkong Land Holdings Ltd.Hysan Development Company, Ltd.Swire Pacific Ltd.The Wharf (Holdings) Limited8063842780638433810170398327326110/18/2007 10:14:00 AM0100000001030000010315000103180075Press Release0019144H78Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.376212_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/375953_pr_framefitch/375953_pr_framehtmlHongkong Land Holdings Ltd.8063842710/17/2007 10:12:00 AM0103180075Press ReleaseH78Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.375953_pr_frameCredit & Investment ResearchFitch Research