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Moody's affirms Kowloon-Canton
Moody's Investors Service said it affirmed the Aa3 issuer and senior unsecured debt ratings of Kowloon-Canton Railway Corp. This follows the approval by Hong Kong of legislation for the proposed operational merger with MTR Corp. Ltd.
The affirmation reflects Moody's expectation that despite the projected weakening in Kowloon-Canton's financial profile following the merger, it will retain its strategic importance to the Hong Kong government, Moody's said.
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