S&P rates Airport Authority Hong Kong notes AA+

S&P said it assigned an AA+ long-term issue rating to a proposed issue of dollar-denominated senior unsecured notes by Airport Authority Hong Kong.

The proposed issuance will be a drawdown from the company's $8 billion medium-term note program.

The rating is the same as the issuer rating on Airport Authority Hong Kong, S&P explained.

The proceeds will be used for construction of a three-runway system, the agency said.

The outlook is stable, the same as that on the government of Hong Kong, S&P said.

The ratings reflect the company's essential role in maintaining Hong Kong as a regional aviation hub, the agency said, and its durable and strong link with the government over the next 24 months.

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