Manchester Airport Group debt rating unaffected by release from price regulation
19.01.08
Standard & Poor's Ratings Services has announced that its 'A' rating and stable outlook on the Manchester Airport Group (MAG) are unchanged by the Department for Transport's announcement this week that it will withdraw price regulation on Manchester Airport, allowing it to set its own airport charges to airlines.
Standard & Poor's deems the outcome of this decision to be credit neutral for MAG.The agency said: ' To maintain its strong competitive position, Manchester Airport has had to consistently set its charges below the maximum allowed by the Civil Aviation Authority. Therefore, the positive financial impact for MAG will be minor and limited to regulatory supervision cost savings of approximately £5m every five years.'
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