[ET Net News Agency, 14 September 2017] S&P Global Ratings affirmed its 'AAA' long-term
and 'A-1+' short-term corporate credit rating on Hong Kong's sole rail operator MTR Corp.
Ltd. (MTRC)(00066). The outlook on the long-term rating is negative.
The credit rating agency also affirmed its 'AAA' issue rating on the senior unsecured
notes issued by MTRC and its subsidiary MTR Corp. (C.I.) Ltd. MTRC guarantees the notes
that MTR Corp. (C.I.) issued.
S&P affirmed the ratings to reflect our view that MTRC will remain of critical
importance to its 75% controlling shareholder, the Hong Kong (Special Administrative
Region) (HKSAR; AAA/Negative/A-1+).
S&P believes that the company would benefit from extraordinary government support, if
necessary. As such, the agency equalizes the rating on MTRC to that on HKSAR. (KL)