Morningstar DBRS Publishes Final Methodology for Rating Airports

Morningstar DBRS finalized its "Methodology for Rating Airports" (the Methodology).

This methodology is published in connection with the Fundamental Methodological Integration Project (see announcement dated October 30, 2023, for more details: https://dbrs.morningstar.com/research/422623).

This Methodology presents the criteria for which ratings in the airports industry are assigned and/or monitored.

The Methodology supersedes the prior version published on April 15, 2024 (which was titled "Rating Airports"), and is effective as of May 22, 2025.

In addition to expanding our industry coverage, the Methodology generally focuses on providing greater transparency on our credit rating process and is designed to refine analytical frameworks and methodologies across Morningstar DBRS. Over the course of 2025, we will continue our efforts as part of the Fundamental Methodological Integration Project relating to certain other corporate methodologies.

The finalization of the Methodology follows the conclusion of the request for comment period that began on April 2, 2025. Morningstar DBRS did not receive any comments during the request for comment period.

While there are no significant changes to the analytical approach, Morningstar DBRS deems the updates to be material. No outstanding credit ratings are expected to change as a result of these updates.

All comments received during the request for comment period have been published to the Morningstar DBRS website, except in cases where confidentiality is requested by the respondent.

Notes:
Morningstar DBRS methodologies are publicly available on its website https://dbrs.morningstar.com under Methodologies & Criteria.

For more information on this methodology, or on this industry, visit https://dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.