Greater Toronto Airports Authority: Rating Report
DBRS Limited (DBRS Morningstar) confirmed the Greater Toronto Airports Authority’s (GTAA or the Authority) Issuer Rating at A (high) and Commercial Paper rating at R-1 (low) with Stable trends. The rating confirmations are based on GTAA’s robust liquidity and business risk assessment, expected start of recovery in passenger volumes with the easing of travel restrictions in Canada, and improvement in metrics over the medium term, despite the challenges and uncertainties caused by the containment measures related to the Coronavirus Disease (COVID-19) pandemic that have affected international travel and business travel.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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