Three Australian And New Zealand Airports Downgraded, Five Affirmed; Outlook Negative On Six Airports, Stable On Two - S&P Global Ratings’ Credit Research

Three Australian And New Zealand Airports Downgraded, Five Affirmed; Outlook Negative On Six Airports, Stable On Two

Three Australian And New Zealand Airports Downgraded, Five Affirmed; Outlook Negative On Six Airports, Stable On Two - S&P Global Ratings’ Credit Research
Three Australian And New Zealand Airports Downgraded, Five Affirmed; Outlook Negative On Six Airports, Stable On Two
Published Jun 15, 2020
6 pages (2635 words) — Published Jun 15, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Australian and New Zealand airports face a slow climb out of COVID-19 restrictions after a near halt in air travel since mid-March 2020. Even with the pandemic largely under control in both countries, the airports face a protracted recovery in traffic to pre-COVID-19 levels. Reduced cash flows over the next 12 months will result in weak financial metrics at all rated airports in fiscal 2021, before a a rebound thereafter. However, a few rated airports will be unable to absorb our expectation of a prolonged recovery phase and to operate with metrics consistent with their previous rating levels from fiscal 2022 and beyond. On June 16, 2020, S&P Global Ratings lowered the ratings on Australia's Melbourne Airport, as well as

  
Brief Excerpt:

...June 15, 2020 - Australian and New Zealand airports face a slow climb out of COVID-19 restrictions after a near halt in air travel since mid-March 2020. Even with the pandemic largely under control in both countries, the airports face a protracted recovery in traffic to pre-COVID-19 levels. - Reduced cash flows over the next 12 months will result in weak financial metrics at all rated airports in fiscal 2021, before a a rebound thereafter. However, a few rated airports will be unable to absorb our expectation of a prolonged recovery phase and to operate with metrics consistent with their previous rating levels from fiscal 2022 and beyond. - On June 16, 2020, S&P Global Ratings lowered the ratings on Australia's Melbourne Airport, as well as New Zealand's Christchurch Airport and Wellington Airport. At the same time, we affirmed the ratings on Australia's Adelaide Airport, Brisbane Airport, Perth Airport, and Sydney Airport, as well as New Zealand's Auckland Airport. We removed all ratings...

  
Report Type:

Ratings Action

Ticker
1356Z@AU
Issuer
Australia Pacific Airports Corp. Ltd.
GICS
Airport Services (20305010)
Sector
Global Issuers, Structured Finance
Country
Australia
Region
Pacific
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Three Australian And New Zealand Airports Downgraded, Five Affirmed; Outlook Negative On Six Airports, Stable On Two" Jun 15, 2020. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Three-Australian-And-New-Zealand-Airports-Downgraded-Five-Affirmed-Outlook-Negative-On-Six-Airports-Stable-On-Two-2483414>
  
APA:
S&P Global Ratings’ Credit Research. (). Three Australian And New Zealand Airports Downgraded, Five Affirmed; Outlook Negative On Six Airports, Stable On Two Jun 15, 2020. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Three-Australian-And-New-Zealand-Airports-Downgraded-Five-Affirmed-Outlook-Negative-On-Six-Airports-Stable-On-Two-2483414>
  
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