Fitch rates Airports Co. South Africa AA(zaf)

Fitch Ratings said it assigned an AA(zaf) national long-term rating and F1+(zaf) short-term rating to Airports Co. South Africa Ltd.

The outlook is stable.

The agency said the ratings reflect the stable, growing and economically regulated profit generated by the company's strategically located international and national airports; the status of the airports as national infrastructure assets, with regulated monopoly status and no direct competitive threat internationally or domestically; and the fact that the company's OR Tambo International in Johannesburg serves as the main entry route to South Africa, the rest of Southern Africa and for international traffic.

Although the company is majority owned by the South African government, Airports Co. South Africa's ratings are assigned on a standalone basis because Fitch does not believe the state will provide financial aid to the company.

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