...- Airport operator daa PLC is expected to continue increasing its nonaeronautical revenue (both retail and nonretail), based on expected passenger spending and the company's ongoing focus on the segment. Although passenger and airline demand at Dublin airport is strong, capacity is subject to a pending planning decision and a potential cap on the number of night-time flights. If passenger numbers grow more slowly or are lower than predicted, we think these could be mitigated by airport charges adjustments starting 2027. - We therefore expect daa to maintain strong credit metrics in the coming years, even though it is undertaking a capital investment plan that will take a decade to complete. The size of the plan and the complexity of keeping it on budget and on time will limit rating upside, beyond today's action. - We raised to 'A/A-1' from 'A-/A-2' our issuer credit ratings on daa and to 'A' from 'A-' our issue credit ratings on its debt. - The stable outlook indicates that we expect funds...
