DBRS: Montreal International Fuel Facilities view negative

DBRS said it confirmed the A (low) rating on the amortizing bonds of Montreal International Fuel Facilities Corp. and revised the trend on the rating to negative from stable.

The trend change incorporates MIFFC's plan to continue to intentionally manage to a debt service coverage ratio of 1.0 times, according to the agency.

DBRS said that, despite the company's proficient management, the lowered financial flexibility is inappropriate for the rating category given the volatile nature of the airline industry.

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