...February 22, 2021 - We equalize our long-term issuer credit rating on the wholly government-owned Incheon International Airport Corp. (IIAC) with that on Korea because we assess an almost certain likelihood of extraordinary government support to the company when needed. - Operational stress amid the COVID-19 pandemic will continue to weigh on IIAC's traffic volume and revenue growth in 2021. However, we expect the company's profitability to gradually recover after 2021 and reach pre-pandemic levels by 2024. - We are assigning our '##' long-term issuer credit rating to IIAC. - The stable outlook reflects that on the sovereign credit rating on Korea. HONG KONG (S&P Global Ratings) Feb. 22, 2021--S&P Global Ratings today took the rating actions listed above. We equalize the long-term issuer credit rating on IIAC with that on Korea (##/Stable/A-1+) to reflect our view of an almost certain likelihood of extraordinary government support. We believe the government of Korea will provide the company...
