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Vancouver Airport Authority Receives AA- Credit Rating

YVR retains strong financial position during unprecedented time.

Today, ratings agency Standard & Poor’s lowered Vancouver Airport Authority’s credit and senior unsecured debt rating by one notch, from AA  to AA-. The new rating continues to reflect superior credit quality amidst the challenging environment the aviation industry has faced since the start of the COVID-19 pandemic.

“While 2020 has been an unprecedented year for YVR and the aviation industry, we are confident in our airport’s future—thanks to our prudent management, flexible planning and innovative team,” said Diana Vuong, YVR’s Vice President Finance and Chief Financial Officer. “This new credit rating reflects the global reality of a shock to the aviation industry while continuing to affirm YVR is on solid footing. We entered the COVID-19 crisis in a strong financial position, which enabled YVR to make the necessary changes to safely operate a reduced footprint while pursuing innovations that will rebuild the industry.”

YVR’s financial strength stems from a unique business model and an incremental approach to growth. As a community-based organization without shareholders, YVR reinvests all profits back into improving the airport for everyone while keeping costs low. The airport is recognized as an industry leader and continues to be an important source of jobs and economic activity for the region, connecting communities to key markets and destinations around the world.

Full details on YVR’s 2019 financials are available in YVR’s 2019 Annual & Sustainability Report.

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