Airport company receives “A1” rating: Moody’s confirm good credit standing17.02.2016
The Moody’s rating agency has awarded Flughafen Berlin Brandenburg GmbH (FBB) an “A1” rating; the outlook is stable. This confirms a so-called “Investment Grade” for the airport company which stands for good creditworthiness.
Moody’s has evaluated FBB for the first time and takes consideration of both ongoing support by shareholders in the form of equity and guarantees, and substantial debt on the part of FBB. The shareholders are the states of Berlin and Brandenburg each holding a 37% stake and the Federal Republic of Germany accounting for 26%. Heike Fölster, Director Finance at Flughafen Berlin Brandenburg GmbH, explains: “We initiated the rating of our own accord. It is important for us to create transparency regarding the intrinsic value of Flughafen Berlin Brandenburg GmbH and the challenges associated with our business.”
In its evaluation, Moody’s refers to the very robust development of passenger figures at Berlin's airports over the past ten years. Average annual growth was 5.6 per cent which is more than for any other major German airport. Reference was also made to strong growth in the area of point-to-point transport (non-stop flights by passengers). Second only to Frankfurt Airport, Berlin records the highest passenger figures in point-to-point transport. A total of 29.53 million passengers departed from and arrived at Berlin's two airports, Tegel and Schönefeld, last year (+5.5% over 2014).
Click here for the Flughafen Berlin Brandenburg GmbH rating published by Moody’s as well as the detailed evaluation: