HKAA seeks rating before loan expiry

The Hong Kong Airport Authority could soon become the SAR''s fourth quasi-government bond issuer.

The Hong Kong Airport Authority is making moves to secure a credit rating ahead of the expiry of a HK$4 billion syndicated loan this September.

We have invited a selection of investment banks to submit a ratings advisory proposal to us, says Alex Kam Kwong-fai, treasurer of the HKAA. We clearly have the intention to seek a rating.

The rating would probably take 8-10 weeks to complete. We hope it is going to be a straightforward exercise.

Hong Kong's three existing quasi-government issuers, namely MTR Corporation, Kowloon-Canton Railway Corporation and the Hong Kong Mortgage Corporation Limited, all enjoy the same ratings as the Special Administrative Region itself. The HKAA...

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