Greater Toronto Airports Authority: Rating Report

DBRS Limited (DBRS Morningstar) confirmed the Greater Toronto Airports Authority’s (GTAA or the Authority) Issuer Rating at A (high) and Commercial Paper rating at R-1 (low) with Stable trends. The rating confirmations are based on GTAA’s robust liquidity and business risk assessment, expected start of recovery in passenger volumes with the easing of travel restrictions in Canada, and improvement in metrics over the medium term, despite the challenges and uncertainties caused by the containment measures related to the Coronavirus Disease (COVID-19) pandemic that have affected international travel and business travel.