REG - Gatwick Funding Ltd - Credit Rating Update

Vinci SAAnnouncement

12/11/2020 09:30

RNS Number : 1100F
  
Gatwick Funding Limited
  
12 November 2020
  
 

Issuer: Gatwick Funding Limited

Date: 12 November 2020



Gatwick Funding Limited (the "Issuer")

a company incorporated in Jersey (registered number 107376)
 Credit rating update
 
Credit rating agency Moody's Investors Service (Moody's) has completed a review of Gatwick Funding Limited's Class A debt and has downgraded its rating from Baa1, negative outlook to Baa2, negative outlook. Whilst maintaining an investment grade rating, the agency cites that the breadth and severity of the coronavirus outbreak will lead to slower than previously anticipated traffic recovery.
On 13th November at 17:00 GMT, as part of Gatwick Airport's current quarterly information package to secured creditors, it will publish on its website (investor relations section) an update on traffic performance, financial covenant position and a 6-month liquidity forecast.
 
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