Qube Holdings Limited (ASX: QUB) Assigned Investment Grade Credit Ratings
Credit Rating Announcement
Qube Holdings Limited (ASX: QUB) has been assigned investment grade credit ratings by Fitch Ratings and S&P Global Ratings, both awarding a BBB rating with a stable outlook. This recognition highlights Qube’s strong market position as a leading provider of integrated logistics services in Australia.
Operational Resilience and Diversification
The investment grade ratings reflect Qube’s operational resilience throughout market cycles. Its diversified earnings across various core markets strengthen its overall business stability. Mark Wratten, CFO of Qube Holdings, stated, “It is pleasing that the strength, quality and resilience of Qube’s business and earnings has been recognised by the rating agencies.”
Future Funding Strategy
Wratten added that these credit ratings are a crucial step in Qube’s strategy to diversify funding sources and extend the maturity profile of its debt facilities. Following this announcement, Qube plans to meet with debt investors in Australia and Asia, potentially issuing an Australian dollar-denominated benchmark bond with terms of 7 to 10 years.
Any forthcoming transaction will be under Qube’s Australian Medium Term Note programme dated 21 November 2024.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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