(12 April 2024 – Hong Kong) NWS Holdings Limited (“NWS” or the “Group”, Hong Kong stock code: 659) is pleased to announce that NWS has been awarded the inaugural "A+" Foreign Currency Long-term Issuer Rating and "A+" Local Currency Long-term Issuer Rating with a stable outlook from Japan Credit Rating Agency, Ltd. (“JCR”). These ratings reflect the international rating agency's high recognition of the Group’s reputation, strong cash flow, and robust financial structure.
JCR is the only Japanese rating agency registered with the Nationally Recognized Statistical Rating Organizations (NRSROs) in the United States, certified by the European Securities and Markets Authority (ESMA), and recognized by the Hong Kong Monetary Authority (HKMA). JCR said the rating reflects the creditworthiness of NWS’ stable earning power and high cash flow generation capability. The "A+" rating and stable outlook from JCR signify NWS' excellent reputation and financial stability in the market. It also confirms the Group's prudent risk management, the enormous resilience of the Group’s business portfolio which is also well positioned for sustainable and long-term growth opportunities.
Brian Cheng, Group Co-Chief Executive Officer of NWS, said, "We are honored to receive the 'A+' rating from JCR, this rating demonstrates the effectiveness of our business optimization efforts in the past few years and the acknowledgment of the performance of our operating businesses. We are well-prepared to embrace new opportunities and create value for all stakeholders."
Gilbert Ho, Group Co-Chief Executive Officer of NWS, stated, "The achievements of NWS are built upon our team of professionals, robust financial strength, and visionary investment strategies. We take pride in our ability to maintain stability and demonstrate the resiliency that defines our business. We are committed to maintaining our strength and reputation, while continuously striving to establish a stronger market position in the future."
Jim Lam, Group Chief Financial Officer of NWS, added, "Through our agile and prudent business strategies, coupled with proactive financial management, we have effectively controlled risks while maintaining stable profitability and ample cash flow. The 'A+' rating from JCR will further facilitate our financing activities and cooperation opportunities with financial institutions and investors."
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NWS Holdings Limited
NWS Holdings Limited (Hong Kong Stock Code: 659) invests and operates a wide range of businesses predominantly in Hong Kong and the Mainland. Our operating businesses include toll roads, insurance, logistics, construction, and facilities management. Through the Group’s sustainable business model, it is committed to creating more value for all stakeholders and the community.
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NWS Holdings Limited
Telephone: 2131 3801
Email: corpcomm@nws.com.hk
