...MELBOURNE (Standard & Poor's) April 16, 2015--Standard & Poor's Ratings Services said today that it has assigned its '###' long-term rating to Brisbane Airport Corp. Pty Ltd.'s (BAC) 1.5 billion secured euro medium-term note program. The program includes standard events of default and a change-of-control clause but no financial covenants. The note program is secured by a mortgage over the airport lease and a fixed-and-floating charge over all the assets of the issuer. Borrowings under the program will be used to refinance existing debt and for general corporate purposes. The '###' rating on BAC reflects our assessment of its business risk profile as "strong" and financial risk profile as "significant". BAC has a strong market position as the primary gateway airport to the city of Brisbane and State of Queensland, with resilient long-term passenger growth trends. Countering these strengths is competition for leisure and tourism travellers from the Gold Coast and Sunshine Coast airports....
