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Auckland International Airport Announces USPP Covenant Waivers Been Agreed and S&P Affirming Credit Rating

17 Jun 2020  |  11:27:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: USPP covenant waivers agreed, S&P affirms credit rating

Auckland International Airport announced it would seek a waiver for its borrowing covenants with US Private Placement (USPP) investors, who together hold US$400m of USPP notes through to 31 December 2021 (inclusive). The same waivers were agreed prior to the equity raise, at which time all bank lines maturing before 31 December 2021 were extended into 2022 and 2023. S&P affirmed long-term corporate credit rating at A- with a stable outlook.

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