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S&P Cuts HK Airport Authority's Standalone Credit Profile to 'bbb'
2026-09-25 15:13:44 Ratings agency S&P affirmed the Hong Kong Airport Authority's long-term issuer credit rating at "AA+" with a "stable" outlook, saying the Airport Authority remains a global aviation hub. However, slower growth in passenger traffic and rental income, compounded with rising operating expenses, will slow its earnings expansion. Meanwhile, S&P downgraded the Airport Authority's standalone credit profile from "bbb+" to "bbb" to reflect substantial capital expenditure and rising interest burdens over the next two to three years. S&P noted that in Hong Kong's recently announced first five-year plan, the government emphasized strengthening the city's position as an international aviation hub. S&P believed the Airport Authority will continue to develop its international aviation network and open more new routes. As a statutory body wholly owned by the government, the Airport Authority plays an irreplaceable role in maintaining Hong Kong's status as a global and regional aviation hub, which is vital to the city's economy and society. If the Airport Authority faces financial distress, it is almost certain to receive extraordinary government support, S&P assumed. ~ AASTOCKS Financial News Website: www.aastocks.com | |