Moody’s rates Aurizon Operations Baa1

Moody's Investors Service said it assigned a first-time Baa1 rating for local and foreign currency to Aurizon Operations Ltd.

The company is a wholly owned subsidiary of Aurizon Holdings Ltd., which is rated Baa1 with a stable outlook.

“The Baa1 rating reflects Aurizon Operations' high level of cash flow visibility following the separation of Aurizon Holdings Limited's above and below rail operations, as announced on 12 August 2019,” the agency said in a press release.

The outlook is stable.

“The stable outlook reflects Moody's expectation that the company will manage its capital structure such that its credit metrics remain within the rating tolerance level, and that coal market conditions will continue to support stable coal volumes,” Moody’s said.

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