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

Qantas Unveils Special Indigenous Aircraft Livery

Qantas has unveiled a special livery honouring Aboriginal and Torres Strait Islander Australians on its latest Boeing 787-9 Dreamliner. The new livery features the work of the late Northern Territo...

CTT Systems announces first Cair VIP order for BBJ MAX 8

CTT SYSTEMS AB, providers of aircraft humidity control systems, has a launch customer order for a Cair VIP Inflight Humidification system from Jet Aviation for one Boeing BBJ MAX 8. This completion...

The H160 lands in Las Vegas, kicking off Airbus’ presence at Heli-Expo

H160 prototype, H145, H135 and H125 alongside a full range of updated HCare digital solutions The H160 prototype has landed in Las Vegas and will be headlining Airbus Helicopters’ presence fo...

FACC subsidiary CoLT awarded ISO certification

CoLT Prüf und Test GmbH receives ISO certification for meeting the highest quality standards. The test laboratory’s professional quality management fully complies with the SO/IEC 17025...