Fitch affirms Airports Co. South Africa

Fitch Ratings said it affirmed Airports Co. South Africa Ltd.'s national long-term rating at AA(zaf) with stable outlook and national short-term rating at F1+(zaf).

The agency said that the ratings reflect predictable and stable profitability relative to its capital expenditure requirements within an incentive-based economic regulatory framework.

Fitch noted that Airports Co. South Africa remains dependent on its domestic passenger base, 70% of passengers, although the higher tariff earned via international travellers diversifies its revenue exposure.

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