Auckland Airport placed on CreditWatch Negative

Standard & Poor’s has placed Auckland Airport’s ‘A / A-1’ credit ratings on CreditWatch with negative implications following the announcement last Friday that the Canada Pension Plan Investment Board’s partial takeover offer has received shareholder approval.

A copy of the press release from Standard & Poor’s is attached. Auckland Airport remains committed to maintaining a prudent financial position and a strong credit rating. Among other things, the company recently completed a $550 million refinancing to repay debt maturing later this year, to increase access to committed funding and to provide additional funding for the company’s on-going capital expenditure programme. –

ENDS