On Oct. 5, 2005, Standard&Poor's Ratings Services placed its 'A' long-term and its 'A-1' short-term corporate credit ratings on Irish airport operator Dublin Airport Authority PLC (DAA) on CreditWatch with negative implications. At the same time, the 'A' long-term senior unsecured debt rating on the DAA Finance PLC (formerly Aer Rianta Finance PLC) €250 million ($299 million), 6.15% bond issue (guaranteed by DAA) was placed on CreditWatch with negative implications. The CreditWatch placement follows the publication of the second determination on airport charges by the Irish Commission for Aviation Regulation (the Commission) on Sept. 29, 2005, which proposes maximum airport charges for Dublin Airport for the 2006-2009 period. The level of these charges under the Commission's passenger traffic,
