NSW Ports Finance Co. Pty. Ltd. Outlook Revised To Stable On Financial Policy Amendment; 'BBB' Ratings Affirmed

The NSW Ports group's continued strong volume and revenue growth could result in substantially higher shareholder remuneration over the next two to three years. The group revised its financial policies to include maintaining funds from operations to debt of 9% on average, compared with above 9% previously, and will increase capital expenditure by around A$150 million over the next three to four years to develop Enfield Logistics Centre. We are revising the outlook to stable from positive, and affirming the 'BBB' ratings on NSW Ports. The stable outlook reflects our expectation that economic growth in New South Wales of around 3% and NSW Ports' index-linked tariffs will support the port's earnings growth. SYDNEY (S&P Global Ratings) Oct. 13, 2017--S&P Global

...+ The NSW Ports group's continued strong volume and revenue growth could result in substantially higher shareholder remuneration over the next two to three years. + The group revised its financial policies to include maintaining funds from operations to debt of 9% on average, compared with above 9% previously, and will increase capital expenditure by around A$150 million over the next three to four years to develop Enfield Logistics Centre. + We are revising the outlook to stable from positive, and affirming the '###' ratings on NSW Ports. + The stable outlook reflects our expectation that economic growth in New South Wales of around 3% and NSW Ports' index-linked tariffs will support the port's earnings growth. SYDNEY (S&P Global Ratings) Oct. 13, 2017--S&P Global Ratings said today that it had revised its outlook to stable from positive on NSW Ports Finance Co. Pty. Ltd., an Australian landlord ports group's finance vehicle. At the same time, we affirmed the '###' corporate credit rating...

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