Auckland Airport A- credit rating affirmed, outlook lowered to ‘stable’ on $454M capital return plan

Tue, 03 Dec 2013

By Tina Morrison Dec. 3 (BusinessDesk) – Auckland International Airport, the nation’s busiest gateway, had its Standard & Poor’s outlook revised to ‘stable’ from ‘positive’ while its A-/A-2 credit rating was affirmed following plans to increase debt to return $454 million to shareholders. “The increase in debt will drive a relative weakening of the key financial metrics over the short term, in relation to our prior expectations, although this deterioration is not severe enough to result in the ratings being under downward pressure,” Standard...

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