2144 GMT - Qube Holdings has more debt optionality than before. The Australian logistics group has now been assigned an investment grade credit by both Fitch Ratings and S&P Global Ratings. In a note, Citi analyst Samuel Seow highlights that some A$1.2 billion of Qube's A$1.4 billion debt are bank loans, with an average weighted maturity of only 3.2 years. "As a result, this should provide the company with the ability to further diversify, extend maturities and reduce debt costs," says Citi, which rates Qube a buy. Qube says it plans to hold meetings with debt investors in Australia and Asia. An AUD-denominated benchmark issue comprising a term of 7 years and/or 10 years may follow. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 21, 2024 16:44 ET (21:44 GMT)
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