Dublin Airport Authority’s long-term credit rating has been downgraded.
Standard & Poor's Ratings Services said that it has lowered the corporate credit rating from 'A' to 'A-'.
It said that the downgrade reflected their view that the DAA's financial profile will weaken in 2009 significantly more than previously expected.
It also said it anticipated that deteriorating economic conditions will result in a significant decrease in passenger traffic in 2009 and reduced commercial revenues at the company's airports.
However, it said it expected the financial profile to start to improve in 2010, depending upon the outcome of the report from the Commission for Airport Regulation on passenger tariffs.
It also said there are minimal prospects for an upgrade in the current economic environment.
