Moody’s revises Brisbane Airport view to negative

Moody’s Investors Service said it revised the outlook for Brisbane Airport Corp. Pty Ltd. to negative from ratings under review. The started the review on March 25.

The agency also confirmed the company’s Baa2 long-term senior secured bond ratings.

“The confirmation reflects Brisbane Airport’s improved liquidity following its recent arranging of new bank facilities which, coupled with management’s countermeasures, provide it with additional flexibility to manage through the disruption stemming from the coronavirus outbreak,” said Nicholas Chapman, a Moody’s vice president and senior analyst, in a press release.

“At the same time, Brisbane Airport continues to face material challenges from sharply deteriorated aeronautical conditions as a result of the coronavirus outbreak and elevated uncertainty over the timing of any recovery in travel demand,” added Chapman.

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