Sydney Airport issue comments to pay debt
10:07 PM
Charles dickens
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Moody's investor Service says Sydney Airport's matter of $175 million in medium term notes to repay debts will not influence the airport's score outlook.
Sydney Airport Finance Company has issue the permanent rate medium term comments, due to mature in July 2015, to repay a grouping of existing wrapped debt and bank debt due to mature in 2011 and 2012.
Sydney Airport owner MAp Group has welcome the note matter.
"This is Sydney Airport's first unwrap capital markets matter and we are pleased with the stage of demand and pricing achieved," MAp chief executive Kerrie Mather said in a statement on Tuesday.
"Sydney Airport is well located to tap a variety of markets to address its refinancing requirements ahead of its 2011 and 2012 debt maturities."
Moody's has assigned a Baa2 rating to the medium term comments, and says its obtainable rating on the airport's senior debt of Baa2 remains unaffected.
Its score outlook for Sydney Airport is stable. "Sydney Airport's Baa2 rating is underpinned by its strong spirited position, its comparatively stable revenue stream, and the persistence of the light-handed regulatory regime governing Australia's major airports", Moody's vice president Paul Ovnerud-Potter said in a statement.
Sydney Airport Finance Company has issue the permanent rate medium term comments, due to mature in July 2015, to repay a grouping of existing wrapped debt and bank debt due to mature in 2011 and 2012.
Sydney Airport owner MAp Group has welcome the note matter.
"This is Sydney Airport's first unwrap capital markets matter and we are pleased with the stage of demand and pricing achieved," MAp chief executive Kerrie Mather said in a statement on Tuesday.
"Sydney Airport is well located to tap a variety of markets to address its refinancing requirements ahead of its 2011 and 2012 debt maturities."
Moody's has assigned a Baa2 rating to the medium term comments, and says its obtainable rating on the airport's senior debt of Baa2 remains unaffected.
Its score outlook for Sydney Airport is stable. "Sydney Airport's Baa2 rating is underpinned by its strong spirited position, its comparatively stable revenue stream, and the persistence of the light-handed regulatory regime governing Australia's major airports", Moody's vice president Paul Ovnerud-Potter said in a statement.