S&P affirms Kowloon-Canton

Standard & Poor's said it affirmed its AA long-term and A-1+ short-term corporate credit ratings on Kowloon-Canton Railway Corp.

The outlook is stable.

The affirmations take into account the potential merger of the operations of KCRC and MTR Corp. Ltd. (AA/stable/A-1+). Kowloon-Canton is considered a public policy based institution under S&P's methodology, and its ratings are equalized to that of Hong Kong, the agency said.

The affirmation is based on strong support from the Hong Kong government and available information on the potential merger, S&P said.

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