The rating on Leighton Holdings Ltd. reflects its established position as Australia's largest construction and contract mining group; sectoral, geographic, and project diversity across Australia and Asia; and prudent risk management and financial policies appropriate for a company with contract risk exposures. Leighton is Australia's largest construction and engineering company, with diversified interests in telecommunication services, engineering and building construction, contract mining, environmental services, and operation and maintenance of infrastructure and facilities. Leighton has an established reputation of successfully tendering and managing projects on time and on budget. The diversity of large and small construction and mining contracts mitigate reliance on any one project or client, although, as a contractor, Leighton faces cost overrun risks and the flow-on effect of
