- Language: English
- Published: September 2013
- Region: Global, Ireland
Summary: Dublin Airport Authority PLC Nov 11
- Published: November 2011
- Standard & Poors
The ratings on Irish airport operator Dublin Airport Authority (DAA) reflect Standard & Poor's Ratings Services' view of the dominant position of Dublin Airport--which generates three quarters of the DAA group's EBITDA--in the Irish air transportation market and its favorable single-till regulatory regime, which has supported significant increases in aeronautical tariffs in 2010 (up 26%) and 2011 (up 7%) that offset declines in traffic. We also view DAA's implementation of cost-cutting initiatives and its moderate requirements for capital works from 2011 onward as supportive factors. These strengths are mitigated by the close correlation between passenger traffic, which is mainly origin-and-destination, and the economic environment in Ireland which, in our view, will remain relatively weak in the near term (see "Rating...
Companies mentioned in this report are: Dublin Airport Authority PLC
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Dublin Airport Authority PLC