Athens International Airport S.A. announces that its long-term creditworthiness has been rated for the first time by the international credit rating agency Moody’s Ratings at Baa2 (stable outlook) and by the international credit rating agency S&P Global Ratings at BBB+ (stable outlook).
It should be noted that Athens International Airport (AIA) proceeded with an international issuance of investment-grade, senior unsecured notes totaling €500 million, with a 7-year maturity, capitalizing on its strong credit profile and investment-grade ratings from leading international agencies, with the strategic objective of expanding and diversifying its sources of financing, refinancing part of the company’s existing bank debt, as well as for general corporate purposes.
This is AIA’s first international bond issuance following the company’s successful listing on the Athens Stock Exchange in 2024, further expanding the company’s access to international capital markets.
The issuance was particularly successful, attracting strong investor interest, with orders exceeding 2.6 billion euros during the book-building process, resulting in a 5.2-fold oversubscription.
The offering is expected to strengthen Greece’s presence in the international investment-grade corporate bond market, broaden the investor base for Greek corporate bonds, and further increase AIA’s visibility in international capital markets, thereby establishing the company as one of the leading investment-grade issuers in Southeast Europe.
This issuance is one of the very few international investment-grade corporate bond issuances by a Greek non-financial company and marks the first investment-grade bond issuance by a Greek aviation infrastructure company.