Moody’s turns Gatwick view to positive

Moody's Investors Service said it changed the outlook to positive from stable on Gatwick Funding Ltd., a finance company owned by Ivy Holdco Ltd. (together the Gatwick airport group).

Concurrently the agency affirmed the Baa2 senior secured ratings and the (P)Baa2 senior secured rating on the medium-term note program of Gatwick Funding.

Moody's also changed the outlook to positive from stable on Gatwick Airport Finance plc (GAF), a holding company for the Gatwick airport group. Concurrently, the agency affirmed the Ba3 rating on GAF’s senior secured notes.

“The change in the outlook to positive recognizes the Gatwick airport group's improving performance and the potential for the group's credit metrics to strengthen to the levels commensurate with a Baa1 rating,” Moody’s said in a press release.

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