Standard and Poor’s Raises Credit and Senior Unsecured Debt Ratings
Standard & Poor’s announced today that Vancouver International Airport Authority’s credit and senior unsecured debt ratings have been raised to "AA" from "AA Low," making YVR one of only four airports in the world with such a high designation.
"The new ratings reflect our strong financial management and our successful approach in developing YVR as an economic generator for the province and Canada’s Pacific gateway," said Larry Berg, President and CEO, Vancouver International Airport Authority.
Standard & Poor’s based the upgrade on the Airport Authority’s "very strong business and financial profiles," and history of conservative financial management. Despite the turbulent times the aviation industry experienced in recent years, such as September 11, 2001, and the SARS crisis, the Airport Authority managed to maintain strong credit metrics, said Standard & Poor’s, adding that the upgraded ratings reflect confidence in the Airport Authority and the expectation that its "financial profile will remain robust."
The Airport Authority’s "AA" rating is shared with three other airports: Los Angeles International Airport, Oklahoma City Airport (Will Rogers World Airport) and Aéroports de Paris.
Source: Vancouver International Airport
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