The Wharf (Holdings) Limited http://www.alacrastore.com/company-snapshot/The_Wharf_Holdings_Limited-1020305 Thursday, July 24, 2008 4:07:42 PM 1020305 The Wharf (Holdings) Limited en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/641779spcred/641779normThe latest Full Report from S&P4/9/2008 8:35:28 AMFull Report400globalstructured641779Hong KongReal Estate Management & DevelopmentAsiaEmerging MarketsLatin AmericaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesFull ReportSolid recurrent rental income from investment properties Strong market position in Hong Kong's container terminals Expansion risks from aggressive growth in Chinese real estate market Increasing pressure on credit protection due to substantial capital commitments Challenges to improve returns on communications and media investments The rating on Wharf (Holdings) Ltd. reflects a solid recurrent income from the company's high-quality investment properties and the strong market position of its container terminal business in Hong Kong. These factors are balanced by the execution risks associated with its rapid expansion in the Chinese real estate market, increasing pressure on credit protection, due to substantial capital commitments, and the continued challenges to improve the profitability of its investments in its communications, media and entertainmentHKG96225740403010 404030 4040 40Wharf (Holdings) Ltd. (Unsolicited Ratings)120645ASIAEMERGINGLATAMERICAUSA4@HKFULLGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/641780spcred/641780normThe latest Summary from S&P4/9/2008 8:35:28 AMSummary175globalstructured641780Hong KongReal Estate Management & DevelopmentAsiaEmerging MarketsLatin AmericaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesSummaryThe rating on Wharf (Holdings) Ltd. reflects a solid recurrent income from the company's high-quality investment properties and the strong market position of its container terminal business in Hong Kong. These factors are balanced by the execution risks associated with its rapid expansion in the Chinese real estate market, increasing pressure on credit protection, due to substantial capital commitments, and the continued challenges to improve the profitability of its investments in its communications, media and entertainment segment because of intense competition. Wharf is a conglomerate with key businesses in property investment and development, logistics, communications and media, and hotels. The company's major profit contributors--property investments and logistics (i.e. container terminal operations)--collectively contributed 62.5% of total revenue in 2007. Wharf isHKG96225740403010 404030 4040 40Wharf (Holdings) Ltd. (Unsolicited Ratings)120645ASIAEMERGINGLATAMERICAUSA4@HKSUMMARYGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/bir/1198146bir/1198146normThe Wharf (Holdings) Ltd.Hong KongFinance: Property investment, hotel investment, public transportation, terminal operation, warehousing and investments6799655270115239992372107211109IK000044/9/2008 6:11:00 AM1198146Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/fitch/402051_pr_framefitch/402051_pr_framehtmlFitch 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.Sun Hung Kai Properties Ltd.The Wharf (Holdings) Limited80639619832732611/17/2008 10:05:00 AM01000000010300000103180075Press Release164402051_pr_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/350362_report_framefitch/350362_report_framepdfThe Wharf (Holdings) Limited8327326111/1/2007 10:06:00 AM0103000001031800150Credit Update4Fitch 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.350362_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/378512_pr_framefitch/378512_pr_framehtmlThe Wharf (Holdings) Limited8327326110/30/2007 10:06:25 AM010300000103180075Press Release4Fitch 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.378512_pr_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/378172_pr_framefitch/378172_pr_framehtmlThe Wharf (Holdings) Limited8327326110/29/2007 10:06:00 AM010300000103180075Press Release4Fitch 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.378172_pr_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/spcred/610034spcred/610034normThe latest Research Update from S&P10/29/2007 4:33:56 AMResearch Update175globalstructured610034Hong KongReal Estate Management & DevelopmentAsiaEmerging MarketsLatin AmericaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesResearch UpdateOn Oct. 29, 2007, Standard&Poor's Ratings Services assigned its 'BBB' issue rating to a proposed issue of US$300 million-US$400 million in fixed rate senior unsecured notes by Wharf Finance Ltd. (WFL). At the same time, Standard&Poor's affirmed its 'BBB' long-term corporate credit rating on Wharf (Holdings) Ltd. (WHL), which guarantees the notes. The outlook is stable. The proposed notes, due 2017, will be issued under an existing US$1 billion medium-term note program and will be used for general corporate purposes. Notes in the program can be issued by WHL, WFL, or Wharf Finance (BVI) Ltd. WHL will either issue or guarantee the notes. The rating affirmation reflects WHL's high-quality investment properties and container terminal investments, andHKG96225740403010 404030 4040 40Wharf (Holdings) Ltd. (Unsolicited Ratings)120645ASIAEMERGINGLATAMERICAUSA4@HKRESUPDGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/610033spcred/610033normThe latest News from S&P10/29/2007 4:33:56 AMNews100globalstructured610033Hong KongReal Estate Management & DevelopmentAsiaEmerging MarketsLatin AmericaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesNewsHONG KONG (Standard&Poor's) Oct. 29, 2007--Standard&Poor's Ratings Services said today that it had assigned its 'BBB' issue rating to a proposed issue of US$300 million-US$400 million in fixed rate senior unsecured notes by Wharf Finance Ltd. (WFL). At the same time, Standard&Poor's affirmed its 'BBB' long-term corporate credit rating on Wharf (Holdings) Ltd. (WHL), which guarantees the notes. The outlook is stable. The proposed notes, due 2017, will be issued under an existing US$1 billion medium-term note program and will be used for general corporate purposes. Notes in the program can be issued by WHL, WFL, or Wharf Finance (BVI) Ltd. WHL will either issue or guarantee the notes. "The rating affirmation reflects WHL'sHKG96225740403010 404030 4040 40Wharf (Holdings) Ltd. (Unsolicited Ratings)120645ASIAEMERGINGLATAMERICAUSA4@HKNEWSGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit 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 10:08:00 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 ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/375956_pr_framefitch/375956_pr_framehtmlThe Wharf (Holdings) Limited8327326110/17/2007 10:05:00 AM010300000103180075Press Release4Fitch 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.375956_pr_frameCredit & Investment ResearchFitchResearch