(Reuters) – Most U.S. airports are financially equipped to withstand the coronavirus-led slump in passenger traffic, which is expected to persist for the rest of 2020, credit rating agency Fitch Ratings said in a report on Wednesday.
Fitch carried out stress tests on airports it has issued credit ratings on, assuming a recovery in passenger traffic of 85% in 2021, 95% in 2022 and a complete recovery by 2023, all relative to 2019 levels.
Key credit metrics of most U.S. airports are likely to remain largely stable over the medium term, based on the results of the stress tests, the report said.
However, over the longer term, the duration of the slump in traffic and revenue will ultimately dictate the performance of the airports, the report added. (https://bit.ly/3edxdTp)
(Reporting by Bharath Manjesh in Bengaluru; Editing by Devika Syamnath)