S&P lifts Hutchison Port to positive

S&P said it revised the outlook on Hutchison Port Holdings Trust to positive from stable.

The agency also said it affirmed the company's BBB+ long-term corporate credit rating.

S&P also said it affirmed the BBB+ long-term issue ratings on the company's outstanding guaranteed senior unsecured notes.

The outlook revision follows the same rating action on the company's ultimate parent, CK Hutchison Holdings Ltd., the agency said.

S&P said it continues to assess Hutchison Port as a strategically important member of CK Hutchison.

The positive outlook reflects an expectation that the CK Hutchison group's financial performance is likely to remain strong despite volatile global economic conditions and an anticipation of rising interest rates, the agency said.

The scale and pace of the group's new investments are expected to moderate further compared with a few years ago, S&P said.

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