New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Auckland Airport's (AIA) NZ$1.4bn equity raise to support its capital development programme suggests a conservative approach to managing its balance sheet.</li><li>The additional equity should mean AIA navigates the bulge of capital expansion over the medium term, without getting close to testing its key S&amp;P A- credit rating of funds from operations (FFO) to debt threshold, even with the prospect of aeronautical price cuts in FY26 and FY27.</li><li>The latter stems from the current Commerce Commission (ComCom) PSE4 (FY23–FY27) pricing review. </li></ul>

Auckland Airport's (AIA) NZ$1.4bn equity raise to support its capital development programme suggests a conservative approach to managing its balance sheet.The additional equity should mean AIA navigates the bulge of capital expansion over the medium term, without getting close to testing its key S&amp;P A- credit rating of funds from operations (FFO) to debt threshold, even with the prospect of aeronautical price cuts in FY26 and FY27.The latter stems from the current Commerce Commission (ComCom) PSE4 (FY23–FY27) pricing review. 

Auckland Airport - Funding Terminal Value

Auckland Intl Airport

Auckland Airport - Funding Terminal Value