Following its annual review, Standard & Poor’s (S&P) has revised their outlook on Halifax International Airport Authority (HIAA) to positive from stable. At the same time, S&P affirmed HIAA’s A+ credit rating. S&P is the world's foremost provider of independent credit ratings.
S&P states the outlook revision and A+ rating reflects the strength of the authority’s business and financial positions and that in the next two years, HIAA’s debt metrics will remain low and coverage ratios will remain strong.
“Everyone at the airport authority and within the airport community should be proud of this achievement,” says Joyce Carter, HIAA President & CEO. “We are tremendously pleased that S&P has demonstrated their confidence in us. Our A+ Positive credit rating is a testament to our prudent fiscal management. As one of the most critical pieces of transportation infrastructure in Atlantic Canada, this is terrific news for our entire region.”
"The outlook revision reflects our view that, despite a tepid economic environment and significant disruptions to operations because of weather events in the previous year, the authority will continue to maintain strong operating performance and a healthy financial profile, comparing positively with those of similarly rated peers," states S&P in their report.
