A+/A1 Ratings Demonstrate Confidence in Airport Development
May 14, 2008 | General
Edmonton Airports today announced credit ratings of A+ (from Canadian Bond Rating Service), A1 (Moody’s Investor Service), and A+ (Standard & Poor’s) for an upcoming long-term bond issue.
The planned issue will provide long-term financing for Phase I – III of the $235 million Air Terminal Redevelopment Project underway at Edmonton International Airport.
In 1995, the Airport served 1.9 million passengers. Today, the Edmonton International Airport serves approximately 3.8 million passengers. The completed Air Terminal Redevelopment Project has a design capacity for 5.5 million travelers, which the International Airport is forecasted to serve by the year 2015.
“The distinctive ratings we’ve received further validate Edmonton Airports terminal redevelopment project as an affordable facility, appropriate to meet the communities’ air service demands of today, and the future,” said Sidney Hanson, Chairman of the Board of Directors, Edmonton Airports.
Scott Clements, President and CEO of Edmonton Airports, states, “These ratings demonstrate confidence in Edmonton Airports, and our community, and the plans we are implementing to develop a modern international airport, equipped to serve the capital region, and the world.”
The ratings received by Edmonton Airports’ debt issue meet or exceed those for all other similar airport debt issues in Canada.
FOR FURTHER INFORMATION CONTACT:
Paul Calder, CFA (416) 956-4870 ext. 227
Canadian Bond Rating Service
Adam Whiteman (212) 553-7809
Moody’s Investor Service
Valerie Blair (416) 202-6012
Standard & Poor’s