Moody’s changes Malaysia Airports to stable

Moody's Investors Service said it affirmed the A3 issuer rating of Malaysia Airports Holdings Bhd. (MAHB) and changed its outlook to stable from negative.

"The change in outlook to stable reflects the strengthening of MAHB's credit profile due to stabilization in its overseas operations, and continued resilience in its domestic market," Moody's vice president and senior credit officer Ray Tay said in a news release.

"Passenger traffic growth in 2018 will continue to benefit from stabilization of the operating environment for MAHB's wholly owned subsidiary, Sabiha Gokcen International Airport (SGIA, unrated), which owns and operates the second largest airport in Istanbul, Turkey (Ba1 negative).

"These operations had faced uncertainty following the failed coup attempt of July 2016, as well as the occurrence of terrorist attacks," Tay added in the release.

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