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Moody's may cut Transurban Finance
Moody's Investors Service said it placed the A3 senior secured rating of Transurban Finance Co. Pty. Ltd. on review for possible downgrade.
The review reflects the expected weakening in the group's credit profile as a slowdown in the operating environment is likely to lead to weaker traffic growth, Moody's said.
This will challenge the company's plan to maintain its financial leverage at a level that had supported its A3 rating, the agency said.
Other factors challenging the rating include a number of refinancing needs at the corporate and asset level in 2009 and 2010, although management has been active in addressing this issue, Moody's added.
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