The ratings on airport operator Dublin Airport Authority PLC (DAA) reflect its strong, dominant competitive position in the Republic of Ireland (AAA/Stable/A-1+). The ratings also reflect the company's strong commercial skills, a high level of origin-destination passengers passing through its airports, and economic growth in Ireland. Uncertainty regarding the future regulatory regime following the company's restructuring, a highly politicized operating environment, a weak financial profile for the ratings, and an unbalanced revenue mix are negative rating factors. In May 2005, the government announced that DAA will construct the new pier, terminal, and additional infrastructure for long-term growth at Dublin Airport. This is positive because it removes the previous threat of an independently owned terminal at the airport in the next
