Schiphol Nederland BV, a wholly owned subsidiary of Schiphol Group, issued a EUR 300 million bond in June 2003. The bond carries a maturity of 10 years with coupon of 4.375% and was issued under the EUR 1 billion EMTN programme. Furthermore, in 2003 Schiphol Group took out a EUR 150 million loan from the European Investment Bank carrying a maturity of 8 years and a coupon of 3.75%. Schiphol frequently uses private placements under the EMTN programme for funding purposes. The composition of the debt portfolio is described in the annual report.
Schiphol Group has contractual agreements with Moody's Investor Services (Moody's) and Standard & Poor's Rating Service (S&P) for the provision of their rating services. Schiphol Group supports a proactive dialogue with both agencies and meets with them at least once a year.
Current Credit Rating
Long term rating
Moody’s: A stable outlook
Standard & Poors: A1 outlook stable
Baseline credit: 7 stable outlook
Short term rating
Moody’s: P -1
Standard & Poors: A-1
ECP Programme
The Euro Commercial Paper Programme (“ECP programme") enables Schiphol Group to obtain loans to finance investments, repay loans, finance dividend payments and expenditure for other general business purposes.
EMTN Programme
The Euro Medium Term Note programme enables Schiphol Group to obtain money to finance investments, repay loans, finance dividend payments and expenditure for other general business purposes.
Credit Rating Announcements
This section contains the historic rating announcements by S&P and Moody's.
Debt Market Financial Information
Selected debt market information can be found here, incl. key ratios, capital structure information and debt maturity profile.