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Moody's: Budgeted Cost for Northern Link in Line; MTR CORPORATION Credit Profile Unaffected
2026-11-12 16:27:34 The Hong Kong government and MTR CORPORATION (00066.HK) signed the project agreement for the full Northern Link railway project, with a budgeted cost of HKD86.2 billion, representing a 28% reduction from the original estimate. Ratings agency Moody's said MTR CORPORATION's credit profile will not be affected by the additional expected cost, as the cost is broadly in line with expectations and has already been incorporated into its base-case financial forecasts. In particular, MTR CORPORATION expected average annual spending of about HKD3.3 billion during the second phase between 2027 and 2029, accounting for only about 11% of Moody's estimated total average annual expenditure for 2026 to 2028. Moody's therefore considers the spending manageable for MTR CORPORATION. ~ AASTOCKS Financial News Website: www.aastocks.com | |