S&P rates Perth Airport notes BBB

Standard & Poor's said assigned its BBB rating to Perth Airport Pty Ltd.'s A$1 billion medium-term note program.

The series notes issued under the program will rank pari pasu with Perth Airport's other senior secured debt and will have the benefit of security over the assets and undertakings of Perth Airport. Future note issuance from the program will be rated based on the terms and conditions stipulated in each issue's pricing supplement.

S&P said the BBB ratings on Perth Airport reflect its view of the airport's "strong" business risk profile, underpinned by its excellent market position as Western Australia's gateway airport, and the agency's opinion of the airport's "significant" financial risk profile.

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