Auckland Airport placed on Credit

Watch NegativeStandard & Poor’s has placed Auckland Airport’s ‘A / A-1’ credit ratings on CreditWatch with negative implications following the announcement last Friday thatthe Canada Pension Plan Investment Board’s partial takeover offer has receivedshareholder approval.

A copy of the press release from Standard & Poor’s is attached.

Auckland Airport remains committed to maintaining a prudent financial position and astrong credit rating.

Among other things, the company recently completed a $550million refinancing to repay debt maturing later this year, to increase access tocommitted funding and to provide additional funding for the company’s on-goingcapital expenditure programme