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S&P Credit Research637 word report
published Dec 22, 2008
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S&P Credit Research
| Abstract: | MELBOURNE (Standard&Poor's) Dec. 23, 2008--Standard&Poor's Ratings Services today said that it had lowered the ratings on Macquarie Airports' (MAp; BBB-/Stable/--) A$760.45 million tradable interest-bearing convertible equity trust securities (TICkETS) to 'A+', from 'AA-', following a downgrade of an investment in the group's collateral security pool that supports the TICkETS debt. The corporate credit rating on MAp is unaffected. "The TICkETS downgrade is driven by a similar downgrade of an asset within the collateral pool that supports the TICkETS; however, that security pool continues to comprise a small number of highly rated assets, and the outlook on the rating of each of those assets is stable," said Standard&Poor's credit analyst Philip Grundy. "Under the existing
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| Brief Excerpt: | RESEARCH Ratings Definitions Macquarie Airports TICkETS Rtg Lowered To 'A+' On Downgrade Within Collateral Security Pool Publication date: 22-Dec-2008 Primary Credit Analyst: Philip Grundy, Melbourne (61) 3-9631-2063; philip_grundy@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | MAP@AU
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| Issuer: | Macquarie Airports (MAp)
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| GICS: | Airport Services (20305010)
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| Sector: | Aerospace & Defense, Corporations, Global Issuers
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| Country: | Australia
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| Region: | Pacific
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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.
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