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

ExecuJet welcomes first Pilatus PC-24 to Africa

ExecuJet, part of the Luxaviation Group, is announcing that it will be the first business aviation company to operate and manage a Pilatus PC-24 Super Versatile Jet in Africa.  The aircraft wi...

Bell announces the delivery of Bell 429S to Jamaica defense Force

Bell Helicopter announced the delivery of two Bell 429s to the Jamaica Defence Force (JDF). A third Bell 429 is scheduled for delivery to the JDF next year. The three aircraft will be used to com...

Pratt & Whitney expands service network with new designated maintenance facility in Brazil

Pratt & Whitney Canada, a subsidiary of United Technologies Corp., announced at LABACE 2018 that it has appointed its third Designated Maintenance Facility (DMF) in Brazil, Helipark Manutenç...

Bell 525 completes hot weather testing

The Bell 525 flight test program has now accumulated over 1,000 hours of total test time with speeds exceeding 200kts at maximum gross weight limits. Bell Helicopter is pleased to announce tha...