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S&P Credit Research1337 word report
published Nov 04, 2009
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$175.00 available for immediate download
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S&P Credit Research
| Abstract: | The rating on Singapore-based port operator PSA International Pte Ltd (PSA International) reflects the "very high" likelihood of extraordinary government support, very strong market position, and diversified geographic operations. These strengths are partially offset by pressure on cash flow measures and increased competition from neighboring ports. In accordance with Standard&Poor's criteria for government-related entities, our view of a very high likelihood of extraordinary government support is based on our assessment of the following characteristics of PSA International: "Very important" role as the Singapore port, which in our view is a strategic asset for the government given the significant contribution of international trade and related services to the performance of Singapore's small and open economy. "Very strong" link as
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: PSA International Pte Ltd Publication date: 04-Nov-2009 Primary Credit Analyst: Yasmin Wirjawan, Singapore (65) 6239-6302; yasmin_wirjawan@standardandpoors.com Secondary Credit Analyst: Andrew...
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| Report Type: | Summary
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| Issuer: | PSA International Pte Ltd
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| GICS: | Marine Ports & Services (20305030)
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| Sector: | Global Issuers, Structured Finance
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| Country: | Singapore
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| Region: | Emerging Markets
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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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- Summary: PSA International Pte Ltd $175.00
The rating on PSA International reflects its strong government support, dominant position in the domestic market, and diversified geographic operations. These strengths are partly offset by its leveraged position and increased competition. ...
- PSA International Pte. Ltd. $400.00
Strategic importance of its port operations to Singapore. Solid business position through its Singapore port operations. Geographic diversity through growing operations outside of Singapore. Higher leverage position, although continued debt ...
- Summary: PSA International Pte. Ltd. $175.00
PSA International Ltd. (PSA group) is a leading global port operator with total assets of Singapore dollar (S$) 17 billion (US$11 billion) in 2006. The ratings on PSA group reflect the following strengths: Strategic importance of its port operations ...
