Moody's: Hutchison Port's 2016 results in line with expectation; ratings unaffected
Hong Kong, February 14, 2017-- Moody's Investors Service says that Hutchison Port Holdings Trust's full-year 2016 results were in line with Moody's expectations and support its Baa1 issuer ratings and stable outlook. "HPHT's softened operating performance in 2016 was consistent with our view of the challenging operating environment for the overall port industry," says Osbert Tang, a Moody's Vice President and Senior Analyst. HPHT's total throughput volume fell by 6%...Hutchison Port Holdings Trust is a container port business trust. Co. is engaged in investing in, developing, operating and managing deep-water container ports in the Guangdong Province of the People's Republic of China, Hong Kong and Macau. Co. may also invest in other types of port assets including river ports, which are complementary to the deep-water container ports owned by Co., as well as undertake certain port ancillary services including, trucking, feedering, freight-forwarding, supply chain management, warehousing and distribution services. As of Dec 31 2014, Co. owned interests in four deep-water container ports located in Kwai Tsing in Hong Kong and Shenzhen in China.
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