S&P ups Aeropuertos Dominicanos

S&P said it boosted Aeropuertos Dominicanos Siglo XXI SA’s issuer and issue-level ratings to BB- from B+.

“We expect traffic to increase to 98% and 110% of the 2019 level by the end of 2022 and 2023, respectively. In our view, key to the rapid recovery is because 75% of passengers arriving at the Las Americas International Airport (Aerodom's largest airport in terms of revenue and passengers) come from North America, where most of the population is vaccinated,” S&P said in a press release.

The agency noted the Dominican Republic doesn't demand a proof of vaccination, quarantines, or PCR test to enter the country.

S&P said it projects an improvement in the company's financial performance and credit metrics, because it now forecasts EBITDA of about $130 million for 2021, $145 million for 2022 and $166 million for 2023, about 30% higher than previously expected.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.