S&P lowers Khabarovsky Airport to negative

Standard & Poor’s said it revised the outlook on OAO Khabarovsky Airport to negative from stable.

The agency also said it affirmed the company’s B+ long-term corporate credit rating.

The outlook revision reflects a view that Khabarovsky Airport’s credit ratios are likely to come under pressure in the next 12 months if the company decides to fully implement its ambitious capital expenditure plan in the current weaker operating environment, S&P said.

The plan would see Khabarovsky Airport spending nearly RUB 1.9 billion in 2015, the agency said.

Passenger growth at Khabarovsky Airport has been significantly weaker in 2014, especially in recent months, compared with 2013, S&P added.

These weaknesses are partially offset by Khabarovsky Airport’s strong position in its market as the hub airport for the region.

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