| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers 4 > Headlines for 407 International Inc. > News item |
DBRS stabilizes 407 trend
DBRS said it revised the trend on 407 International Inc. to stable from negative and confirmed its A issuer and senior bond ratings, its junior bonds at A(low) and subordinated bonds at BBB.
“The trend change is mainly supported by the satisfactory traffic volume recovery from the negative impact of the Coronavirus Disease (Covid-19) pandemic as a result of the easing or removal of all pandemic-related restrictions,” the agency said in a press release.
The company reported 1.622.3 billion vehicle kilometers traveled (VKT) in the first nine months of 2022, representing a 38% growth on a year-over-year (YOY) basis or about 79% of the 2019 level. Revenues in the first nine months of 2022 reached $964.7 million, a growth of 35% YOY and about 86% of the 2019 level, better than expected, DBRS said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.