DBRS Confirms MILIT-AIR Inc. at AAA

DBRS has today confirmed its ratings on the Amortizing Secured Bonds Series 1 and Amortizing Secured Bonds Series 2-1 issued by MILIT-AIR Inc. (MILIT-AIR) at AAA, with a Stable trend. MILIT-AIR is a not-for-profit corporation formed for the sole purpose of acquiring and making available to Bombardier Inc. infrastructure assets in support of the NATO Flying Training in Canada (NFTC) program.

The rating remains underpinned by the AAA rating of the Government of Canada, which has an unconditional and irrevocable obligation to make payments (Firm Fixed Fees) sufficient to service MILIT-AIR’s amortizing bonds.

Note:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Canadian Public-Private Partnerships, which can be found on our website under Methodologies.

This is a Corporate (Infrastructure Finance) rating.