Aviation news analysis
50 SKY SHADES - World aviation news

Moody's has confirmed the best achievable rating in the Czech Republic for Český Aeroholding

Download: Printable PDF Date: 12 Feb 2018 09:01 categories:
Publisher:
Moody's has confirmed the best achievable rating in the Czech Republic for Český Aeroholding - Airports / Routes publisher
Krista Kuznecova
Country: Czech Republic Aircraft: Airplanes

The renowned agency Moody’s Investors Service has confirmed the A1 rating with a stable outlook for Český Aeroholding (ČAH), the only shareholder of the Prague airport Letiště Praha. The company received the highest possible rating achievable in the Czech Republic already in February 2017. The agency’s decision has confirmed the ability of ČAH to successfully implement its strategy, to maintain a prudent financial policy and to report very good economic results. Český Aeroholding thus continues to have the same high rating as the Czech Republic as such.

“The key reasons for confirmation of the obtained highest rating include the company’s stable cash flow, the ability of Letiště Praha to define and to maintain competitive airport charges and, naturally, also its excellent financial position. We have very good economic results with a stable base which will not be affected by future investments into our development plans, such as a parallel runway or major enlargement of the terminal,“ said Václav Řehoř, Chairman of the Board of Directors of Český Aeroholding about the Moody’s decision.

In its assessment Moody’s has pointed to the strong position of Letiště Praha as the main gateway to the Czech Republic, with its 97 % of passengers for whom the airport serves as the point of departure or final destination.

The stable outlook attached to the rating reflects Moody’s expectations and positive evaluation to the effect that the company will continue its prudent financial policy in order to reduce its indebtedness at least until the beginning of the next decade.

In the past four years Moody’s has increased the rating of Český Aeroholding three times and now the company has been able to maintain the highest A1 rating with a stable outlook. “The rating at the same level as that of the Czech Republic is naturally a great signal for our business partners and shareholders. At the same time, it confirms our investment plans to develop the company and it improves preconditions for our potential long-term funding,“ explains Václav Řehoř.

The rating has been granted to Český Aeroholding, a.s. but it also reflects the performance of the entire group of Český Aeroholding for which the airport Letiště Praha is the biggest asset. It positively reflects the stable cash flow of the company, competitive airport charges and its very strong financial profile which, according to Moody’s, will not be threatened by future investments into its development.



Loading comments for Moody's has confirmed the best achievable rating in the Czech Republic for Český Aeroholding...


Recommended

Signature Flight Support inks deal with ATP Flight School for a nationwide flight support program

Signature Flight Support recently signed an agreement with the nation’s largest flight training provider, ATP Flight School, for a nationwide, full-service flight support agreement. Under the...

Racing toward the future: the RACER high-speed demonstrator

Tilt rotor or tilt prop, two rotors or one . . . the combinations for vertical takeoff and landing (VTOL) vehicles run the gamut. Here, a layman’s look at why Airbus is developing the RACER high...

Kopter announces a first firm order with SAS from Malaysia

On the occasion of Helitech 2018, Systematic Aviation Services (SAS) from Malaysia has signed a firm order with Kopter for one SH09 helicopter in passenger transport configuration that will based out...

Dassault Falcon 6X development accelerates into detail design phase

Unveiled earlier this year, Dassault Aviation's new 5,500 nm/10,186 km Falcon 6X ultra widebody twinjet has completed preliminary design and entered the detail design phase.  Production of...