DBRS confirms Edmonton Regional Airports Authority

DBRS said it confirmed the rating on the revenue bonds issued by the Edmonton Regional Airports Authority at A (high). The trend is stable.

The rating incorporates the authority's significant progress in the implementation of Expansion 2012 in a timely and cost-effective manner, the agency said.

The rating is tempered by the fairly heavy borrowing necessitated by the capital program and the expectation that credit metrics will deteriorate during the near term, a situation exacerbated by lower-than-expected traffic growth, DBRS said.

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