Manchester Airport Group Rating Lowered To 'BBB'; Then Withdrawn At Company's Request Feb 13
- ID: 2417792
- February 2013
- Standard & Poors
U.K. airport operator The Manchester Airport Group PLC (MAG) has announced that it will acquire Stansted Airport from Heathrow Airport Ltd. for £1.5 billion. The deal is due to close by Feb. 28, 2013. In our view, MAG's financial risk profile will weaken to "significant" from "modest" as a result of the acquisition. We are therefore lowering our long-term corporate credit rating on MAG to 'BBB' from 'A'. At the same time, we are withdrawing the rating at the company's request. LONDON (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services said today that it lowered its long-term corporate credit rating on U.K. airport operator The Manchester Airport Group PLC (MAG) to 'BBB' from 'A'. At the same time,...
Companies mentioned in this report are:
- The Manchester Airport Group PLC
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