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S&P Credit Research3775 word report
published May 06, 2009
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S&P Credit Research
| Abstract: | The synchronized global economic slowdown is starting to hit Australian and New Zealand (ANZ) airports rated by Standard&Poor's Ratings Services. But unless the slowdown is especially protracted or deep, most of these airports should be able to withstand the associated slowdown in passenger traffic. The generally downbeat levels of business and consumer confidence, however, make airports more susceptible to a "shock" event; these potentially include a significant worsening of the current swine flu outbreak. Most ANZ airports are responding to the unfavorable operating environment by buttressing their financial profiles through a combination of preserving liquidity, deferring capital expenditure, and injecting equity. In addition, recent sharp falls in fuel prices and continued airline competition, especially from low-cost carriers (LCCs),
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| Brief Excerpt: | RESEARCH Ratings Definitions Industry Report Card: Buckle Up: Turbulence Ahead For Airports In Australia And New Zealand Publication date: 06-May-2009 Primary Credit Analyst: Chris Cudsi, Melbourne (61) 3-9631-2156; chris_cudsi@standardandpoors.com...
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| Report Type: | Commentary
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| Sector: | Global Issuers
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
