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(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.
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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.
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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.
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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)
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(Reporting by Bharath Manjesh in Bengaluru; Editing by Devika Syamnath)
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