S&P Global Ratings has upgraded the long-term issuer credit and senior unsecured debt rating for Vancouver Airport Authority (VAA) from AA- to AA, with a stable outlook.
The upgrade reflects Vancouver International Airport’s (YVR) robust market position and the authority’s strategic capital investment approach, which S&P expects will sustain healthy financial performance and a low debt burden. S&P views YVR as a major hub and key gateway to the Asia-Pacific region, supporting strong long-term demand and growth amid macroeconomic uncertainty.
Tamara Vrooman, president and CEO of Vancouver Airport Authority, said: Vancouver International Airport is ready now to support new and expanded air service, innovation and technology, and to make other strategic investments to further support trade, connectivity, and Canada’s economy. This rating reinforces our strategy that includes maintaining a superior financial footing while also keeping our carrier and passenger fees amongst the lowest of all major airports in Canada.
Following YVR’s busiest year in 2025 with record cargo and passenger volumes, the authority is enhancing its role as a global hub and Canada’s Pacific gateway to Asia and beyond.
Clayton Buckingham, vice president for finance and CFO, stated: At Vancouver International Airport, our continued success is driven by making strategic investments that serve the community and the economy that supports it. Moving forward, we have strong confidence in our strategy to invest in growth areas to support our operations and the region’s success, particularly when it comes to seizing opportunities to grow service and trade connections with emerging markets in Asia, India, and beyond.