YVR’s strong credit ratings reaffirmed by S&P Global and Morningstar DBRS, with S&P revising outlook to positive

Musqueam Territory/Richmond, B.C. (October 1, 2024): On August 23, 2024, S&P Global Ratings published a Research Update where it shared a revised outlook for Vancouver Airport Authority/L'Administration de l'aéroport de Vancouver, moving from stable to positive. S&P maintained its AA- rating long-term issuer credit and senior unsecured debt rating granted to the Airport Authority in the previous year, confirming YVR’s strength and stability.  

Shortly after, on September 13, 2024, Morningstar DBRS also confirmed the Airport Authority’s Issuer Rating and Senior Debentures credit rating at AA (low). The AA- and AA (low) ratings issued by the two credit authorities further reinforce the Airport Authority’s superior credit quality supported by the strength of its strategic location, relatively low debt burden, prudent management overall, and the expectation that continued passenger growth will support upcoming operations and capital needs. 

“The revision of the outlook and high rankings by S&P and Morningstar DBRS gives us a high level of confidence in our management capabilities and tactical decisions, led by our senior executives," said Tamara Vrooman, President and CEO at Vancouver International Airport. "Strategic planning and actions aimed at improving services and airport infrastructure, with a focus on travellers, our employees, and community, have been the cornerstones of our work. This focus, together with our goal to expand our non-aeronautical revenues, will continue to guide our efforts in the coming years while we maintain a financially stable and reliable institution that our local and international partners continue to trust.” 

Full details on YVR’s 2023 financials as well as business and operating highlights are available in its 2023 Annual & Sustainability Report.