407 International Inc.: Rating Report

DBRS Limited (DBRS Morningstar) confirmed 407 International Inc.’s (407) Issuer Rating at "A," the ratings on its Senior Bonds at “A,” Junior Bonds at A (low), and Subordinated Bonds at BBB. All trends remain Stable. The ratings continue to be supported by the long-term economic fundamentals of the catchment area and 407’s adequate liquidity position. The Stable trends reflect the satisfactory traffic volume recovery from the negative impact of the Coronavirus Disease (COVID-19) pandemic and improved financial metrics with reasonable buffer to withstand a conceivable economic downturn scenario.