...- Continued strong regional traffic, a solid rebound in domestic air travel, and our expectation of improving international traffic should strengthen Perth Airport Pty Ltd.'s (PAPL) earnings and cash flows over the next 12-24 months. - We also expect PAPL, which owns and operates Perth airport, to maintain strong control on capital expenditure (capex), such that its ratio of funds from operations (FFO) to debt will move above 9% by at least 2024. - On Aug. 2, 2022, S&P Global Ratings revised its rating outlook on PAPL to stable from negative. At the same time, we affirmed our '###' long-term issuer and issue rating on the airport's rated debt. - The stable outlook on PAPL reflects our expectation of a strong recovery in passenger traffic at Perth Airport over the next 12-24 months. We also expect PAPL's capex to be within our forecast, such that the FFO-to-debt ratio improves to above 9% by fiscal 2024....
