(The following statement was released by the rating agency) Link...

(The following statement was released by the rating agency)

Link to Fitch Ratings' Report: 2017 Outlook: Australian Transportation

http//www.fitchratings.com/site/re/890899

SYDNEY, December 06 (Fitch) Australia's transport infrastructure is likely to experience steady growth in 2017, with toll roads benefitting from continued healthy economic growth and ports exposed to the commodity exports receiving support from the weaker Australian dollar, says Fitch Ratings in its new outlook report on the sector.

Underlying toll-road traffic remains robust following the completion of road-expansion works, continuing the trend of the last few years. Fitch expects overall traffic growth in the low- to mid-single digits for the agency's rated Australian road portfolio in 2016.

Transportation assets' performance in Fitch's Australian portfolio is underpinned by their important economic roles. Roads in Transurban's portfolio make up the bulk of Sydney's and Melbourne's key motorway networks. In the port sector, the Dalrymple Bay Coal Terminal is the largest coal export terminal serving Queensland's Bowen Basin and benefits from strong take-or-pay customer contracts, which include pass-through of operating and maintenance costs.

However, Australian transportation companies could face reduced traffic levels or find it difficult to refinance their high exposure to medium-term domestic bullet bank debt, which is high compared with global peers, if GDP growth slows or there is a dislocation in international wholesale markets, although cash flows should support potentially higher debt costs.

The report, 2017 Outlook: Australian Transportation, is available on www.fitchratings.com or by clicking on the link above.

Contact:

David Cook

Director

+61 2 8256 0363

Fitch Australia Pty Ltd

Level 15, 77 King Street

Sydney NSW 2000

Danilo Quattromani

Director

+39 02 879087 275

Media Relation Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: [email protected]; Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: [email protected].

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