Secure market position and resilient passenger traffic, leading to robust cash flows Good growth prospects, with some revenue diversity occurring Good history of shareholder support, combined with clear financial policies and targets Aggressive financial profile Small-to-moderate catchment size relative to global peers Large forecast capital expenditure and associated operating complexity The ratings on Brisbane Airport Corp. Pty Ltd. (BAC) reflect the airport's secure market position, resilient passenger traffic, good growth prospects, and increasing revenue diversity. Offsetting these strengths are an aggressive financial profile, small-to-moderate catchment size, and large forecast capital expenditure and associated operating complexity. Brisbane Airport has a strong competitive position as the major gateway for international, domestic, and regional traffic into the State of Queensland (AAA/Stable/A-1+), a region
