...August 10, 2020 MELBOURNE (S&P Global Ratings) Aug. 10, 2020--S&P Global Ratings said today that Aurizon Holdings Ltd. and the company's two subsidiaries, Aurizon Operations Ltd. (AUO, ###+/Stable/--) and Aurizon Network Pty Ltd. (AUN, ###+/Stable/--), continue to perform well in line with our expectations. The bulk transportation segment achieved healthy results. In addition, the group won additional coal contracts, transporting coal volumes of 214 million metric tons per annum (mtpa) during the year ended June 30, 2020. We expect subdued economic conditions due to the pandemic to moderate coal demand over the next 12 months. Metallurgical coal remains sensitive to prices and downstream demand from steel and other industries across Asia. Thermal coal has remained somewhat resilient so far, but some signs of a slowdown are appearing. Still, economic conditions will worsen--we expect Asia-Pacific's GDP to contract by 1% in 2020 before recovering by 6.3% in 2021. This would keep above-rail...
