The agency raises Aena's long-term rating from 'A' to 'A+' and confirms the short-term rating at 'F1', with a stable outlook, after years of sustained growth in airport traffic.
Fitch Ratings has upgraded Aena's long-term rating from 'A' to 'A+', as well as the rating of the unsecured senior debt EMTN programme, and has confirmed the short-term rating at 'F1', with a stable outlook, according to forbes.es.
The report attributes the upgrade to the sustained growth of the Spanish airport manager's traffic in recent years, which has resulted in solid operational performance in both the aeronautical and non-aeronautical businesses.
The approval of DORA III increases visibility over cash flows, in a context of rising regulated investments in line with the agency's expectations.
In its rating scenario, Fitch places Aena's net leverage at an average of 1.9 times during the 2026-2030 period, a level consistent with the 'A+' rating.
The Council of Ministers approved investments of nearly 13 billion euros in the Spanish airport network for 2027-2031, along with an average annual increase in fees of 0.33%, within the aforementioned DORA III. The plan includes an average annual increase in passenger traffic of 1.8% over the next five years.
Aena will present its results for the period from January to September on 28 October. In the previous period, the group recorded a net profit of 1.002 billion euros, a 12.1% year-on-year increase, and welcomed 190 million passengers, a 4% increase.
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