Aéroports de Paris SA: Information concerning the credit rating regarding Aéroports de Paris
25 März 2020 - 5:45PM
Aéroports de Paris SA: Information concerning the credit rating
regarding Aéroports de Paris
FINANCIAL RELEASE
25 March 2020
Aéroports de Paris SAInformation
concerning the long term credit rating regarding
Aéroports de Paris
Aéroports de Paris takes note of today's
decision by the rating agency Standard and Poor's to revise the
long term credit rating of the company, due to the traffic decrease
linked to the Covid-19 epidemic. This rating is now A, with a
negative outlook, while it has been A+ with a negative outlook
since 27 February 2020.
The agency highlights in particular that: "The
airports sector in Europe is facing an unprecedented decline in air
traffic as Europe has become the epicenter of the COVID-19
pandemic". Regarding ADP, it precises that: "Liquidity remains
adequate, despite our expectations of lower cash flow generation
over the next 12 months. One of the company's credit strengths in
the current environment is its liquidity position. We continue to
see to see the group's liquidity as adequate despite our
expectations for lower cash generation over the next 12
months.(…)This should be sufficient for the company to cover its
€879 million of short-term maturities, €550 million of maintenance
capex and dividends, and €1.36 billion to pay down the acquisition
of India-based GMR Airports. We have not included any potential
sources of additional liquidity, such as new funding to finance
this acquisition. We acknowledge ADP's flexibility to defer further
planned capex, and reduce or even suspend shareholder remuneration
if necessary."
Investor Relations: Audrey Arnoux, Head
of Investor Relations +33 1 74 25 70 64 -
invest@adp.frPress contact: Lola Bourget,
Head of Medias and Reputation Department +33 1 74 25 23
23Groupe ADP develops and manages airports, including
Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. In 2019,
the group handled through its brand Paris Aéroport more than 108
million passengers and 2.2 million metric tons of freight and mail
at Paris-Charles de Gaulle and Paris-Orly, and more than 110
million passengers in airports abroad. Boasting an exceptional
geographic location and a major catchment area, the Group is
pursuing its strategy of adapting and modernizing its terminal
facilities and upgrading quality of services; the group also
intends to develop its retail and real estate businesses. In 2019,
group revenue stood at €4,700 million and net income at €588
million.Registered office: 1 rue de France – 93290 Tremblay en
France, France. A public limited company (Société Anonyme) with
share capital of €296,881,806. Registered in the Bobigny Trade and
Company Register under no. 552 016
628.groupeadp.fr
- Aéroports de Paris SA - Information concerning the credit
rating regarding Aéroports de Paris
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