Edmonton Regional Airports Authority: Rating Report

On July 23, 2020, DBRS Limited (DBRS Morningstar) downgraded Edmonton Regional Airports Authority’s (ERAA or the Authority) Issuer Rating and Revenue Bonds, Series A rating to “A” from A (high) with Negative trends and removed the ratings from Under Review with Negative Implications, where they were placed on April 8, 2020. The ratings downgrade results from the Coronavirus Disease (COVID-19)’s significant negative impact on passenger volumes at Edmonton International Airport (YEG or the Airport) and the Authority’s forecast that passenger volume recovery will only reach pre-coronavirus levels by 2024.